READ: Gordhan's full response to the Guptas

Finance Minister Pravin Gordhan does not believe there is any “bona fide” opposition to his application for a declaratory order confirming that he could not intervene in a dispute between Oakbay Investments and the four banks.

“It is supported by the banks‚ the Registrar of Banks‚ the Reserve Bank and FIC [Financial Intelligence Centre]‚” he said in his responding affidavit in the matter.

In his affidavit‚ filed on Monday‚ Gordhan called Oakbay Investments opposition to the application “unreasonable”.

• Gordhan accuses Guptas of plot against National TreasuryFinance Minister Pravin Gordhan has vehemently denied any suggestion that he is involved in a vendetta against the Gupta family. Instead‚ he has accused the Guptas of a being engaged in a highly-organised campaign against himself and the National Treasury. 

He said the Gupta-owned company had sought to use a “concise application” as a springboard to salvage its commercial and other interests and filed extensive papers‚ yet did not address affidavits filed by the banks.

“Instead‚ it used‚ many months to construct far-ranging accusations against me‚” the minister said.

Read Gordhan's full response here:

In October‚ Gordhan applied for a declaratory order confirming that he could not intervene in a dispute between Oakbay Investments and the four banks.

In a responding affidavit‚ Oakbay Investments acting chief executive Ronica Ragavan accused Gordhan of using the courts to fight political battles.

She also accused the minister of instructing “captains of industry” to “clip the wings” of the Gupta family. Oakbay has asked the court to dismiss Gordhan’s application. The matter is expected to be heard in court on March 28.

In a response to Ragavan’s affidavit‚ Gordhan on Monday said: “In truth‚ what stands revealed as the real plot is the systematic and highly organised campaign by the Gupta family and its associates against the National Treasury‚ myself and other targets.”

He said Oakbay’s opposition to the application had delayed the hearing and consumed undue human and financial resources.

“Oakbay has acted unreasonably in this regard.”

Gordhan has asked the court to order that Oakbay pay costs in the matter as it was not reasonable to “devolve the legal costs on public funds”.

TMG Digital/BusinessLIVE