This, as Friday’s proceedings commenced virtually - before Judge Joseph Mhlambi - due to Covid-19 restrictions. Sharma, who is revealed to have also changed legal counsel since his Bloemfontein Magistrate’s Court bail application in early June and is now represented by Mannie Witz, is of the view that he has a right to privacy in the matter.

State prosecutor, Peter Serunye, says they are not opposed to media’s presence in light of Sharma not objecting to coverage by media last month, they therefore do not understand why his views have since changed. 

Legal counsel for News24, Sunday Times and eNCA each pleaded their case for media access before Mhlambi.

Willem de Klerk, on behalf of News24 and the Sunday Times, says “in principle, court proceedings such as these are open to the public, that is what is provided for in the Criminal Procedures Act”.

Mhlambi subsequently granted the media access to the virtual proceedings.

Sharma was arrested alongside 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 brother-in-law, Dinesh Patel, in connection with the near R25 million feasibility study given to Nulane Investments - owned by the alleged Gupta affiliate - to ascertain the feasibility of the Vrede Dairy Project under the "Mohoma Mobung" initiative. 

Sharma’s co-accused were all granted R10 000 bail despite the state opposing bail for the government officials embroiled in the matter.

READ: Thabethe granted bail in #Estina feasibility study case

Magistrate Estelle de Lange denied the former Transnet board member bail, owing to him being deemed a flight risk.

During bail proceedings last month the state contended that the vast majority of Sharma’s estate lies outside of the country, with only 10% of his assets being in South Africa. This is in stark contradiction to the accused’s assertion that South Africa is home, a place he often returns to from his frequent work trips abroad.

READ: 'Only 10% of Iqbal Sharma’s estate lies in SA' - reveals state

State prosecutor, Peter Serunye, also maintained that Sharma deliberately concealed that Issar Global - a company he owns in the United Arab Emirates (UAE) - received over R200 million between August and December 2016 from the country. And he is likely to make use of said funds to set up a safe haven in the UAE.

The feasibility study central to the case was subcontracted by Nulane Investments to Deloitte for only R1,5 million. Nulane Investments then subcontracted the work already carried out by Deloitte to Gateway Limited and paid them R19 million. The state alleges the funds were then laundered into varied accounts, including that of Islandsite Investments, owned by the Gupta family.

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.

READ: Interpol issues red notice for #Guptas, associates

Whilst red notices for the Gupta family are under consideration, the notices have been issued and greenlit for their associates: former Nulane Investment Bank of Baroda account signatory, Ankit Jain; Director of Wone Management, Ravindra Nath; and the Directors of Pragat Investments, Ramesh Bhat and Jagdish Parekh. 

OFM News