Bernadette Wicks
Senior court reporter
3 minute read
16 Nov 2021
5:30 am

Appeal to freeze R1.6 billion worth of Gupta assets

Bernadette Wicks

The state’s bid to wrest back control of about R1.6 billion worth of assets belonging to Gupta-linked consultancy firm Regiments Capital kicked off in the High Court in Johannesburg on Monday.

Ajay, left, and Atul Gupta are reportedly in the UAE.

The state’s bid to wrest back control of about R1.6 billion worth of assets belonging to the Gupta-linked consultancy firm Regiments Capital kicked off in the High Court in Johannesburg on Monday. Gupta assets Ruling reversed In November 2019, the court provisionally froze the assets – alleged to be the proceeds of crime – but then last October, it reversed this ruling after finding the state had failed to disclose various material facts during the initial proceedings. However, the National Director of Public Prosecutions (NDPP), represented by investigating directorate head Hermione Cronje, is now appealing that decision before a full...