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

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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]
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