Court orders release of Gupta-linked companies’ assets

The High Court in Bloemfontein has found in favour of Gupta-linked companies and associates and released all assets which had formed part of a restraint order granted to the Asset Forfeiture Unit in relation to the Estina dairy farm matter.

Indian businessmen Ajay and Atul Gupta Businessmen Ajay and Atul Gupta Image: FILE

The companies had approached the court shortly after the seizure in a bid to have the restraint order set aside.

Judge Phillip Loubser on Monday found that there were no reasonable grounds‚ based on the evidence before him‚ to uphold the provisional restraint order.

In April the AFU seized cars‚ aircraft and properties belonging to the Gupta family and associates.

- BusinessLIVE