While the Guptas have been accused of spreading their tentacles far and wide, the controversial family has distanced itself from a murky multimillion-rand case playing itself out in the East London High Court.
Earlier this week, the Dispatch published an article in which it was reported that Sanjay Gupta was representing Al Maya International in a deal with South African businessman Philipus Mostert regarding a herd of buffalo.
Gupta is based in Fujairah, one of seven emirates that make up the United Arab Emirates (UAE).
He was representing Al Maya in a deal in which the company invested R100-million in 2012 in the Valley of the Kings Thaba Motswere (Pty) Ltd, a business that breeds and sells game for commercial gain.
Mostert was responsible for the management of the company.
Thaba Motswere Game Farm’s head office is in the jurisdiction of the East London court. Valley of the Kings also has a safari and hunting lodge on a farm in Thabazimbi, in Limpopo.
Now the Gupta family in South Africa has, through their spokesman Gary Naidu, distanced themselves from the matter altogether.
“Sanjay Gupta is not connected to Oakbay Investments or any Oakbay company. We have no dealings with this person. ‘Gupta’ is a very common name,” Naidu said.
Al Maya and Valley of the Kings had a fallout after the former accused Mostert of mismanagement.
Al Maya has asked Judge John Smith to put Valley of the Kings under supervision and that business rescue proceedings take place.
Al Maya claimed that last year Valley of the Kings ran into financial difficulties and could not pay staff.
Mostert then borrowed R7.5-million from the government of Fujairah to pay salaries and the loan made last year by the Arab government was secured by a bond over all the buffalos owned by Valley of the Kings.
The loan was meant to be repaid on April 30 this year but was not.
Prince Sheik Mohamed bin Hamad Al Sharqi, the crown prince of the government of Fujairah, is the controlling shareholder of Al Maya, which is registered in the British Virgin Islands.
Smith ordered Valley of the Kings be placed under supervision and appointed senior business rescue practitioners on an interim basis.
A notice to appeal Smith’s order has been filed and a date for the hearing in the fourth term is yet to be arranged. — siyab@dispatch.co.za
'No SA Gupta link in EL case'
Earlier this week, the Dispatch published an article in which it was reported that Sanjay Gupta was representing Al Maya International in a deal with South African businessman Philipus Mostert regarding a herd of buffalo.
Gupta is based in Fujairah, one of seven emirates that make up the United Arab Emirates (UAE).
He was representing Al Maya in a deal in which the company invested R100-million in 2012 in the Valley of the Kings Thaba Motswere (Pty) Ltd, a business that breeds and sells game for commercial gain.
Mostert was responsible for the management of the company.
Thaba Motswere Game Farm’s head office is in the jurisdiction of the East London court. Valley of the Kings also has a safari and hunting lodge on a farm in Thabazimbi, in Limpopo.
Now the Gupta family in South Africa has, through their spokesman Gary Naidu, distanced themselves from the matter altogether.
“Sanjay Gupta is not connected to Oakbay Investments or any Oakbay company. We have no dealings with this person. ‘Gupta’ is a very common name,” Naidu said.
Al Maya and Valley of the Kings had a fallout after the former accused Mostert of mismanagement.
Al Maya has asked Judge John Smith to put Valley of the Kings under supervision and that business rescue proceedings take place.
Al Maya claimed that last year Valley of the Kings ran into financial difficulties and could not pay staff.
Mostert then borrowed R7.5-million from the government of Fujairah to pay salaries and the loan made last year by the Arab government was secured by a bond over all the buffalos owned by Valley of the Kings.
The loan was meant to be repaid on April 30 this year but was not.
Prince Sheik Mohamed bin Hamad Al Sharqi, the crown prince of the government of Fujairah, is the controlling shareholder of Al Maya, which is registered in the British Virgin Islands.
Smith ordered Valley of the Kings be placed under supervision and appointed senior business rescue practitioners on an interim basis.
A notice to appeal Smith’s order has been filed and a date for the hearing in the fourth term is yet to be arranged. — siyab@dispatch.co.za
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