Gigaba won’t appeal Gordhan's Oakbay application

Gigaba says he accepts and respects the court judgement and says his ministry will abide by it.

FILE: Minister Malusi Gigaba. Picture: GCIS.

JOHANNESBURG - Finance Minister Malusi Gigaba says he will not appeal the High Court judgement dismissing Pravin Gordhan's application for a declaratory order.

Gordhan had sought the order to state that he did not have the legal authority to intervene in the dispute between Gupta-owned companies and the banks.

The court has ruled that Gordhan didn't have to intervene in the dispute between the family's companies and the banks, dismissing his application as unnecessary.

The former minister approached the court after the Gupta family asked him to intervene when the country's four big banks cut ties with the family's companies, citing reputational risk

Gigaba says he accepts and respects the court judgement and says his ministry will abide by it.

The court ruled that Gordhan's application was unnecessary because the law is clear in that no member of the executive may interfere in a private bank client dispute anyway.

It ordered the finance ministry to pay the costs incurred by the Gupta owned Oakbay company.

But the court raised concerns about the conduct of Oakbay.

It says its concerning that while Oakbay conceded the legal position regarding the powers and functions of the minister, they still persisted in their requests to him for assistance.