Ronica Raghavan and Varun Gupta are among eight suspects who were arrested in connection with charges of fraud and corruption related to the controversial Vrede dairy farm project. File picture: Matthews Baloyi / ANA
Bloemfontein - The Free State High Court will on Monday afternoon deliver judgment in an application brought by several Gupta-linked companies and individuals seeking to stop a preservation order against assets worth about R250 million.

The companies involved are Oakbay Investments (Pty) Ltd, Westdawn Investments (Pty) Ltd and Annex Distribution (Pty) Ltd while the individuals are Oakbay acting chief executive officer Ronica Ragavan, company director Ashu Chawla and former director Varun Gupta.

The assets include 43 residential‚ farm and business properties‚ two aircraft‚ a helicopter‚ a Porsche‚ a Lamborghini‚ Range Rovers plus several other cars and the bank accounts belonging to the companies.

The applicants are facing criminal charges relating to the Vrede Integrated Dairy Project where millions of rands meant to benefit emerging black farmers in the Free State were allegedly misappropriated. They were arrested together with several other people and appeared in the Bloemfontein Magistrates Court on February 18. That matter has been postponed to August 17.