This as the matter sat virtually in the Bloemfontein Regional Court on Monday (6 September). Advocate Kenny Oldwage who was appearing on behalf of Johannesburg businessman, Dinesh Patel, tells Magistrate Smanga Nteshe that he and instructive attorney Lee Binneman initially wanted to oppose the state’s request for a postponement, but have decided otherwise on account of Advocate Nazeer Cassim’s assurance on behalf of the state that, come the next court appearance the state will have concluded its investigations into the R24, 9 million feasibility study that greenlit the controversial Vrede dairy project.

Cassim explained that the postponement is to allow the respective parties to finish off pre-trial consultations and to also finalise matters pertaining to accused 7 and 8 in the matter. Whilst Cassim made no mention of names, the provisional indictment indicates that accused number 7 is former Nulane Investments Bank of Baroda account signatory Ankit Jain, whereas accused number 8 is director of Wone Management, Ravindra Nath, for whom red notices were issued and greenlit by Interpol.  

The accused: former Deputy Director-General (DDG) of the Department of Trade and Industry (DTI) and Transnet board member, Iqbal Sharma; the former Free State Agriculture Department Head, Peter Thabethe; current Deputy Director-General at the Department of Cooperative Governance and Traditional Affairs (Cogta), Sylvia Dlamini; Bloem Water Chief Executive Officer (CEO), Limakatso Moorosi; and Sharma’s businessman brother-in-law, Dinesh Patel, were all present virtually for the proceedings. They remain out on bail of between R10 000 and R500 000.

The R24,9 million feasibility study falling under the Mohoma Mobung initiative was awarded to Nulane Investments, in which Sharma was a director in 2011. Patel, on behalf of Nulane, thereafter began engaging Deloitte to subcontract the study, which the forensic auditing firm eventually did for R1,5 million. However, Nulane then subcontracted the work already carried out by Deloitte to Gateway Limited and paid them R19 million. The state alleges the funds were laundered into varied accounts thereafter, including that of Islandsite Investments owned by the Gupta family.

Islandsite Investments, which according to reports owns 40% of Oakbay Investments, the controversial Gupta mansion in Saxonwold and the family's Cape Town home are presently under the care of business rescue practitioners.

The state has in the light of the money laundering allegations, approached Interpol to have them issue red notices for Atul and Rajesh Gupta, as well as their wives Chetali and Arti. Whilst red notices for the Gupta family have been requested, these notices have been issued and greenlit for their associates: Jain, Nath as well as directors of Pragat Investments, Ramesh Bhat, and Jagdish Parekh.

The case resumes on 8 October 2021.

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