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Outa celebrates court decision to freeze Gupta mine funds

The High Court in Pretoria granted the interdict just days after it dismissed an application by several Gupta-owned firms to stop the Bank of Baroda from closing its accounts.

FILE: Ajay Gupta. Credit: YouTube

JOHANNESBURG - Pressure group, the Organisation Undoing Tax Abuse (Outa), is celebrating after a court granted an interdict to freeze more than R1 billion in mine rehabilitation funds from two Gupta-owned coal mines.

The High Court in Pretoria granted the interdict just days after it dismissed an application by several Gupta-owned firms to stop the Bank of Baroda from closing its accounts.

Outa’s Ben Theron says: “For now, we have a two-month grace period that says this money is untouchable. If we win again, we’ll then pursue the matter further.”

Outa’s action was not opposed.

The interim order directs the Bank of Baroda to continue to hold the trust funds of the Optimum Mine Rehabilitation Trust and the Koornfontein Mine Rehabilitation Trust in interest-bearing accounts in the trusts’ names.

(Edited by Zamangwane Shange)