Outa rejoices after court freezes Gupta-owned coal mine funds

Outa rejoices after court freezes Gupta-owned coal mine funds

The Organisation Undoing Tax Abuse (Outa) is rejoicing after a court granted an interdict to freeze two Gupta-owned coal mines’ more than R1 billion in mine rehabilitation funds.

Just days after the Pretoria High Court dismissed an application by several Gupta-owned firms to stop the Bank of Baroda from closing its accounts, the same court granted the interdict.

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Ben Theron from Outa said that at this stage, there’s a two-month grace period that says this money is untouchable. Theron said if Outa wins again, the matter will be pursued further.

Briefly.co.za learned from Eyewitness News that Outa’s action was not opposed.

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The preliminary interdict has ordered the Bank of Baroda to continue to hold the trust funds of the Optimum Mine Rehabilitation Trust and the Koornfontein Mine Rehabilitation Trust in interest-bearing accounts in the trusts’ names.

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Source: Briefly.co.za

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