The National Prosecution Authority (NPA)’s Investigating Directorate (ID) will on Thursday fight for the Gupta family assets to remain in state custody.
The High Court of South Africa, Free State Division, Bloemfontein is expected to hear arguments on Thursday and Friday in the confirmation of the restraint order, granted in favour of the NPA’s ID to restrain assets of Iqbal Sharma, his company Nulane Investments 204 (Pty) Ltd and Islandsite Investments 180 (Pty) Ltd, which belong to Atul and Rajesh Gupta and their wives, Chetali and Arti Gupta, respectively..
ID spokesperson Sindisiwe Seboka said the interim restraint order was granted in June 2021, in terms of the Prevention of Organised Crimes Act (POCA).
Seboka said the order applies to assets in South Africa which include all property of Islandsite, Sharma and his wife Tarina Patel-Sharma, and any property held by Sharma’s companies, including two registered in the UAE.
“Sharma’s assets that form part of the curator’s inventory include his Sandton home valued at over R12 million. The property was featured on lifestyle television programme, Top Billing, and is owned through a UAE-registered company, Issar Global. Other assets include movable property valued at R500 000 and a R1.3 million sectional title home in Sandton,” said Seboka.
She further said properties owned by Gupta family company Islandsite that form part of the inventory include a house worth R21 million in Constantia, near Cape Town and a R12 million house in Saxonwold, Gauteng
Seboka said on 11 August 2021, Judge President of the Free State High Court CJ Musi said the attorneys for the directors of Islandsite (BDK) do not have authority to act on behalf of Islandsite in the proceedings in the Nulane restraint application.
“The directors applied for leave to appeal the ruling. The ID opposed their application. It was heard by Mbhele AJP on 25 February 2022. On 28 April 2022, Mbhele AJP refused the directors of Islandsite leave to appeal,” Seboka said.