SUNDAY TIMES - Business as usual at Baroda Bank for Guptas
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Sunday Times Business By Kyle Cowan, 2017-03-06 15:35:31.0

Business as usual at Baroda Bank for Guptas

The Gupta family lawyer‚ Gert van der Merwe‚ on Monday afternoon said it was still business as usual at the Bank of Baroda.
Image: Muntu Vilakazi/Gallo Images

The Gupta family lawyer‚ Gert van der Merwe‚ on Monday afternoon said it was still business as usual at the Bank of Baroda.

Last week TimesLive reported the bank was considering closing all accounts linked to the family at the end of the month.

It is the last bank that still works with Gupta interests in South Africa. Between February and September last year‚ all four of SA’s ‘big banks’ dumped the family as clients with the Bank of China soon following suit.

“Even as we speak‚ it’s business as usual at the Bank of Baroda‚” Van der Merwe told TimesLive on Monday afternoon.

“No notices‚ nothing is recalled‚ we were not invited there to discuss the accounts‚” he said.

If the bank does close the accounts‚ staff at Oakbay Investments‚ Oakbay Resources and Energy‚ Tegeta‚ JIC Mining Services‚ TNA Media‚ the African News Network (ANN7)‚ VR Laser and Sahara Computers may have difficulty being paid their salaries.

Oakbay on Thursday said the reports of closures of Baroda accounts were “not correct”.

“This is just more evidence of a campaign‚ by some‚ against Oakbay based on nothing more than innuendo‚” the company said.

- TMG Digital