An attempt by the Gupta brothers to retain their bank services with Indian-based Bank of Barado was thwarted by the North Gauteng High Court on Thursday. Twenty Gupta-owned companies had filed an urgent court bid to prevent the bank from closing their bank accounts. In its application, the family requested the court to order the Bank of Barado to suspend closing their accounts until December 7, when their main application was meant to be heard. Handing down judgment, High Court Judge Hans-Joachim Fabricius dismissed the companies’ assertion that they would suffer as not being “real”. He, therefore, gave the BoB the go-ahead to close the family’s business accounts.

Source: The North Africa Journal September 21, 2017 12:00 UTC