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Gupta-owned company directors lose bid for postponement of restraint proceedings | News24

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The Free State High Court in Bloemfontein has refused to postpone proceedings for the confirmation of an interim restraint order that was granted against a Gupta-owned company in business rescue. | J_chabalala

The interim restraint order was granted against Islandsite Investments - which is owned by the Gupta family - in the same court in June 2021 in favour of the National Prosecuting Authority and Investigating Directorate . It allowed them to restrain assets belonging to alleged Gupta associate Iqbal Sharma, his company Nulane Investments 204 Ltd, and Islandsite Investments 180 Ltd.

Although the Islandsite directors wanted to oppose the application for the interim restraint order, the High Court found that they had "no standing" to do so without the approval of the company's business rescue practitioners.

 

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