From the news desk

Court to rule if Baroda can be forced to bank Gupta-linked companies

Share this article

The Pretoria High Court is expected to deliver its judgment on the case in which 19 Gupta-linked companies want to compel the Bank of Baroda to continue offering services to them on Monday.

The Indian state-owned international bank has already indicated that it wants to close its South African branch. Baroda has also said it is cutting ties with Gupta-linked companies by the end of this month.

Baroda has cited its weakening ties with Nedbank which is ending their relationship as the reason it wants to close its South African branch.

However, the lawyer representing the Gupta-linked companies has argued that Nedbank is being used as an excuse.

[Source: SABC]
Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

WhatsApp WhatsApp us
Wait a sec, saving restore vars.