Johannesburg - A Gupta-linked company was unjustifiably enriched by almost R80 million by state-owned freight and rail transport company Transnet, the commission of inquiry into state capture heard on Monday.
Mahlape Sello, a member of the commission’s legal team, said R194.2m, including VAT, was paid to Regiments Capital.
”This payment led to Regiments being unjustifiably enriched to the value of at least R79.2m … and as a consequence Transnet being impoverished,” she said.
Regiments Capital scored the lucrative contract from Transnet and received the payments from the state-owned entity, which was shared between its directors, Gupta associate Salim Essa and businessman Kuben Moodley.
Regiments' directors Niven Pillay and Litha Nyhonyha have since been restricted from using the company’s accounts by the South Gauteng High Court.