Business News: Trillian told to repay R600 million it took from Eskom

Business News: Trillian told to repay R600 million it took from Eskom

- A Gupta-linked company has been ordered to pay back R600m to Eskom

- The North Gauteng High Court made the landmark ruling this week

- It is the first time that a state capture-linked company has been forced to pay back funds to an SOE

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Earlier this week, the North Gauteng High Court ordered Trillian Capital to pay back R600 million to Eskom, which it received unlawfully from the utility.

Trillian is a company with links to the Gupta family.

This marks the first time that a company linked to state capture has been forced to return funds to a state-owned enterprise which it acquired illegally.

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This comes after Eskom sued Trillian, as well as another firm called Mckinsey, for the repayment of more than R1.5 billion, according to IOL.

The ruling has largely been welcomed, with many suggesting that it finally indicated that courts were enforcing greater accountability of companies linked to state capture. 

Wayne Duvenage, for example, of the Organisation Undoing Tax Abuse said he was pleased by the ruling, adding that the money Trillian received from Eskom amounted to "pure theft".

The head of Corruption Watch also praised the ruling but stressed that criminal prosecutions also needed to follow in cases of state capture. As a result, he urged the NPA to take action against Trillian, Briefly.co.za has gathered.

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In the judgement for the Trillian case, the judges said the ruling would bolster the rule of law, which is the "foundation of any constitutional state such as ours".

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Source: Briefly.co.za

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