The Gupta empire is crumbling‚ says OUTA

23 February 2018 - 15:33 By Timeslive Reporter
Atul Gupta. File photo.
Atul Gupta. File photo.
Image: Kevin Sutherland

The once-powerful Gupta empire is collapsing‚ with at least eight businesses filing for business rescue‚ the Organisation Undoing Tax Abuse said on Friday.

“It was inevitable that the empire would implode. South Africans are fierce defenders of justice. With their support‚ OUTA‚ other civil society organisations and the media have worked tirelessly to expose and oppose their looting and to see that justice prevail‚” said Ben Theron‚ the organisation’s chief operating officer.

OUTA said that it had found records at the Companies and Intellectual Property Commission (CIPC) showing that at least eight Gupta companies had filed notices to start business rescue proceedings.

The affected companies were:

  • Optimum Coal Mine (Pty) Ltd;
  • Optimum Coal Terminal (Pty) Ltd;
  • Tegeta Exploration and Resources (Pty) Ltd;
  • Koornfontein Mines (Pty) Ltd;
  • Shiva Uranium (Pty) Ltd;
  • Islandsite Investments One Hundred and Eighty (Pty) Ltd;
  • Confident Concept (Pty) Ltd; and
  • VR Laser Services (Pty) Ltd.

Islandsite and Confident Concept owned properties which included the Gupta compound and Mzwanele Manyi’s television and newspaper offices‚ said OUTA. Confident Concept was reported to own a Porsche driven by Duduzane Zuma.

Optimum and Koornfontein supply coal to Eskom. Employees at Optimum mine were this week desperately trying to find out if they would be paid.

“OUTA sympathises with the hundreds of employees and their families who now face an uncertain future‚” said Theron. "Every effort should be made to keep the mines remain open to ensure job security for the miners and continuation of crucial coal supply to Eskom.”


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