Court orders unfreezing of Gupta-linked company assets
Updated | By Jacaranda FM
The High Court in Johannesburg has unfrozen more than R1 billion worth of assets belonging to Gupta-linked consultancy firm Regiments Capital, after finding the state failed to disclose various certain facts when the matter first came before the judiciary in 2019.

A provisional restraint order had been granted in November last year against the Regiments companies, its directors and their respective family trusts which held assets to the tune over R1.1 billion.
The application was brought by the Investigative Directorate (ID) as it believes the company’s assets are proceeds of crime.
The order came on the back of allegations heard at the commission of inquiry into state capture that the Gupta-linked fund management company benefitted from an agreement between Transnet and Nedbank.
But on Monday the court found that the National Director of Public Prosecutions (NDPP) had left out material information that “ought to have been disclosed”.
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“The basis for the Gauteng High Court’s decision finding is that when the National Director of Public Prosecution Shamila Batohi applied for the restraint order, the deponent Adv. Hermione Cronje should have brought two documents to the Court’s attention: an order taken by agreement in the same division on 26 September 2019 between various Regiments companies, their directors and Dr Wood as to how Regiments’ and its subsidiaries’ assets should be dealt with; and a settlement agreement between Transnet SOC Ltd and Regiments,” says Investigating Directorate spokesperson Sindisiwe Twala.
“In respect of both documents, the NDPP had submitted that they were not relevant to the question of whether a restraint order ought to be granted, namely whether offences may have been committed from which the defendants derived a benefit and whether an equivalent amount of their realisable assets ought to be restrained.”
She adds: “The court nevertheless held that these documents were material and ought to have been disclosed.”
Twala says Batohi is weighing her options following the judgment.
“The NDPP is currently considering whether to appeal today’s judgment.”

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