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South Africa seizes USD 1 3 mn from Gupta family-owned company s bank account
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South Africa seizes USD 1.3 million from Gupta company s bank account
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Last Updated: Apr 02, 2021, 09:27 AM IST
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South African Reserve Bank (SARB) Deputy Governor Kuben Naidoo published a notice in the Government Gazette, declaring the amount and interest accrued at major institution Nedbank to be forfeited to the state.
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In 2017, the massive Sahara Computers offices were left abandoned, with media reports indicating that the company still owed creditors nearly half-a-billion Rand.
South Africa s central bank has seized over USD 1.3 million from a bank account of the now-abandoned Gupta-owned Sahara Computers which was once the country s leading IT suppliers.
South Africa Seizes $1 3 Million From Gupta Company s Bank Account
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South Africa seizes $1.3 million from Gupta family-owned company s bank account
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Last Updated: Apr 02, 2021, 12:38 PM IST
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Synopsis
On Wednesday, the government gazette published a notice by Reserve Bank deputy governor Kuben Naidoo for the forfeiture of the money and any interest accrued from Sahara s Nedbank account and its deposit into the National Revenue Fund, according to a report in Times Live newspaper.
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South Africa s central bank has seized over USD 1.3 million from a bank account of the now-abandoned Gupta family-owned Sahara Computers, which was one of the country s leading IT suppliers. On Wednesday, the government gazette published a notice by Reserve Bank deputy governor Kuben Naidoo for the forfeiture of the money and any interest accrued from Sahara s Nedbank account and its deposit into the National Revenue Fund, according to a report in Times Live newspaper.