Gupta case against Bank of Baroda dismissed with costs
12 March 2018
Pretoria – The High Court in Pretoria on Monday dismissed the application of Gupta-linked companies against Bank of Baroda with costs.
Judge Ntendeya Mavundla ruled on an urgent application by 19 Gupta-linked companies to prevent the Bank of Baroda from closing its South African operations.
In his ruling Mavundla said "the bank's right to or not to trade supersedes whatever right, if any, the applicants might have".
The Bank of Baroda confirmed last month it was leaving South Africa, with the South Africa Reserve Bank saying it would ensure an "orderly" withdrawal.