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Gordhan Loses Banks Interference case against Oakbay

Pravin GordhanCape Town – Finally the application is dismissed!! The North Gauteng high-court had dismissed the case of former finance minister Pravin Gordhan on which he required fortification from intervening in to the Oakbay accounts closure. Moreover, the finance minister was also ordered to pay the legal-cost involved in Oakbay counsels and as a final point the magistrate dismissed the application of standard bank.

Further, the magistrate had ordered to the Registrar and Governor of Reserve Bank along with the director of Nedbank, FNB, ABSA, Financial Intelligence Center  that they have to bear their own costs. At the time of court proceeding, Oakbay had crashed Gordhan’s application indicated it as “superfluous” and “puzzled with legal and factual errors”. Even, the company further indicated that the former finance minister application seems to be unnecessary because no argument was happened regarding his powers as finance minister.

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In the meantime, Black Land Black First (BLF) top leader Andile Mngxitama reveals that it was simply an attempt made by the finance minister to ensure that the country’s economy remains in the hand of while monopolists. Further Mngxitama added that Pravin Gordhan is having interest to safeguard white monopolists and has major shares in companies and banks.

Dismissal of Gordhan Application by Court

The court decision was came out in North Gauteng High-Court by Judge Aubrey Ledwaba, mentioned in Fin 24. As in brief, this application was submitted previous year in the month of October and finally came to hearing in the month of March by the court.

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The Gupta-owned company Oakbay approached Gordhan because he is the finance minister who can interfere on Oakbay account closure (after the news when those 4 banks closed Gupta’s account in SA). Judge Ledwaba indicated that Gordhan application seems to be denied and he has to carry to costs involved. Deputy Judge President Aubrey Ledwaba informed the Gupta’s Oakbay Group approved in its legal arguments to the lawful position which the minister sought confirmed through declaratory order.

However, it is the duty of a minister, and being as a member of National Executive he has to respect, obey and uphold the law in the implement of his executive functions. Thus, it is not suitable for National Executive member to withdraw the judiciary into implement of his executive functions as mentioned in this application. Minister had informed to pay costs of 2 counsels.

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Cecilia Russel who is a special project editor of ANN7, also explained in the breaking news  regarding the Gordhan case dismissal by court. Thus, Pravin Gordhan loses Oakbay case which means anti-Oakbay stance defeated.

Source: http://www.ann7.com/gordhan-loses-case-against-oakbay/

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