Gordhan and Treasury ‘being targeted in campaign by Guptas’

The Guptas are waging an organised campaign against him and the Treasury, Finance Minister Pravin Gordhan said in court papers yesterday, the latest salvo in a legal and financial battle that has unsettled investors.

The Gupta brothers, who deny allegations that they wield excessive influence over President Jacob Zuma, had themselves accused Gordhan in a court filing 10 days ago of conducting a vendetta against them and trying to damage their business.

Gordhan said in his affidavit that the Guptas’ January 20 court filing was part of a “systematic and highly organised campaign by the Gupta family and its associates against the national Treasury, myself and other targets”.

He denied having a vendetta against them.

A statement from Oakbay Investments, the holding company for the Gupta family, said Gordhan’s affidavit did not change the fact that its bank accounts remain closed.

“Today’s affidavit is a case of reverse victim syndrome,” a company spokesman said.

“We look forward to clearing our name in court.”

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 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.

Gordhan called Oakbay’s opposition to the application unreasonable.

He said the company had sought to use a concise application as a springboard to salvage its commercial and other interests, but did not address affidavits filed by the banks.

“Instead‚ it used many months to construct far-ranging accusations against me‚” Gordhan said. In October‚ Gordhan applied for a declaratory order confirming that he could not intervene in a dispute between Oakbay and the four banks.

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

She also accused him 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 on March 28.

In a response to Ragavan’s affidavit‚ Gordhan said yesterday: “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.

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, AFP