Guptas: SARB Seizes Almost R20 Million From Sahara Computers

Guptas: SARB Seizes Almost R20 Million From Sahara Computers

- Almost R20 million has been seized from the Gupta family's Sahara Computers by the South African Reserve Bank

- The forfeiture was gazetted on Wednesday, 31 March by Reserve Bank Deputy Governor Kuben Naidoo

- Atul Gupta reportedly started Sahara Computers in 1994 shortly after first arriving in South Africa

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Sahara Computers (Pty) Limited faced financial strain as the South African Reserve Bank seized a whopping R19 million.

The money was seized under the provisions of Exchange Control Regulation 22B. This provision relates to the “forfeiture and disposal of money or goods attached or in respect of which orders have been issued or made”.

The Government Gazette recently released a notice by Kuben Naidoo, the Reserve Bank Deputy Governor, for the seizing of the money and any interest accumulated from Sahara’s Nedbank account and its deposit into the National Revenue Fund.

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Guptas: Reserve bank, almost R20m
The SARB has seized almost R20 million from the Guptas Sahara Computers. Image: Xavier Dias
Source: Facebook

Based on reports by Business Insider, Sahara Computers (Pty) Limited was started in 1994 along with his brothers Ajay and Rajesh shortly after first arriving in South Africa. The company is seen as the Gupta brothers' first significant business venture in South Africa.

TimesLIVE emphasised the success of Sahara Computers as they pointed out that not only were three cricket stadiums named after the company, but also how Sahara Computers became one of SA’s largest information technology suppliers

In other news about the Gupta family, Briefly.co.za reported that Mmusi Maimane believes that the Gupta family still has their hands in Eskom. Maimane believes that the Guptas are on the verge of receiving around R100 million from the utility.

According to a statement released by Maimane-led One South Africa Movement, Eskom has given the 'green light' for a Gupta-controlled company to claim the aforementioned figure from Optimum Coal Mine.

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Optimum Coal Mine supplies Eskom and, according to Maimane, Eskom has indirectly given the power to Gupta affiliates in terms of inflated coal contracts.

Maimane listed four interventions his movement will be embarking on, one of which is to write to the Chair of Eskom's Board to apply to reverse the decision to support the business rescue plan for Optimum Coal Mine - which Eskom voted to approve the rescue plan for.

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Source: Briefly.co.za

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