Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Over 200 learners fall ill in food poisoning scare at Bloemfontein school

    March 10, 2025

    Exco moves to fast-track Dark City, G-Hostel housing projects

    March 6, 2025

    10 killed, 27 injured in horrific N6 highway bus crash

    March 5, 2025
    Facebook X (Twitter) Instagram
    The Free Stater
    • Home
    • News
    • Local
    • National
    • Property
    • Business
    • Sport
    • Opinion
    • Economy
    • Lifestyle
    • Entertainment
      • Audio
    The Free Stater
    Home»Local»Gupta owned company added to R25million Free State corruption case
    Local

    Gupta owned company added to R25million Free State corruption case

    The Free StaterBy The Free StaterSeptember 28, 2021No Comments2 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Email
    NEW EVIDENCE DISCOVERED . . . Investigating Directorate spokesperson Sindisiwe Seboka says the state requested a postponement in order to add more accused persons to the matter
    Share
    Facebook Twitter LinkedIn Pinterest Email Copy Link

    Staff Reporter

    Islandsite Investments 180 (Pty) Ltd, a company owned by the Gupta family, has been added to the R24.9 million Nulane Investment feasibility study matter as accused number seven.

    However, Ronica Ragavan, a co-director in the company who was also set to be added to the case today, failed to appear before the Bloemfontein Regional Court as a representative of the company citing medical reasons. 

    Investigating Directorate spokesperson Sindisiwe Seboka said as per court procedure, a warrant of arrest was immediately issued unless she fails to appear at the next sitting without giving reason. 

    “A warrant for her arrest has been issued but stayed by the court,” said Seboka soon after the matter was adjourned.

    Ragavan and the other six accused are expected to return to court on October 8.  

    The other accused in the case are Nulane Investment 204 (Pty) Ltd owner Iqbal Sharma, who is also a former Transnet board member; Nulane Investment employee Dinesh Patel, former Free State head of Department for Rural Development, Mbana Peter Thabethe; former head of the provincial agriculture department Limakatso Moorosi and the department’s former chief financial officer Seipati Dhlamini face charges of fraud and money laundering. The former government officials are also charged with contravention of the Public Finance Management Act.

    All the accused are currently out on bail. 

    The group is charged together with two companies, Nulane Investment and Islandsite Investments. 

    The case relates to procurement fraud involving R24.9 million, paid between November 2011 and April 2012 by the Free State Department of Agriculture to Nulane Investment. From there the funds were diverted to Islandsite Investments. 

    The R24.9m was purportedly paid to Nulane to conduct a feasibility study for the Free State Province’s flagship Mohoma Mobung project, on the basis that Nulane had unique skills to perform the work.  

    The company was required to provide a report to the department within seven months. Nulane, however, subcontracted the work to Deloitte Consulting (Pty) Ltd for R1.5m. 

    But in a suspected case of money laundering, Nulane further subcontracted UAE-based Gateway Limited to do the work already completed by Deloitte to Gateway Limited and paid them over R19m. 

    Nulane allegedly transferred millions of rands to several Gupta companies which are now under the radar of South African authorities, Pragat Investments (Pty) Ltd. 

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    The Free Stater
    • Website
    • Facebook

    Breaking news and more

    Related Posts

    Over 200 learners fall ill in food poisoning scare at Bloemfontein school

    March 10, 2025

    Exco moves to fast-track Dark City, G-Hostel housing projects

    March 6, 2025

    10 killed, 27 injured in horrific N6 highway bus crash

    March 5, 2025
    Leave A Reply Cancel Reply

    Don't Miss
    Local

    Over 200 learners fall ill in food poisoning scare at Bloemfontein school

    MORE than 200 learners from Kagisho Secondary School in Phahameng, Bloemfontein, fell ill in a…

    Exco moves to fast-track Dark City, G-Hostel housing projects

    March 6, 2025

    10 killed, 27 injured in horrific N6 highway bus crash

    March 5, 2025

    R30 billion lost fortune

    March 4, 2025
    Demo
    Top Posts

    R429-million housing claim hits brick wall

    February 5, 2025120K Views

    #SopaFS2025 | Free State poised for economic expansion, says premier

    February 22, 2025713 Views

    Jealousy: the dark side of academia in SA

    March 4, 2025218 Views

    Deregistered lawyer ordered to provide R300 000 security

    February 5, 202568 Views
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    The Free Stater is an independent English-language newspaper published in and for the Free State province of South Africa that offers authoritative and trusted journalism cutting across various quality-of-life issues.

    Email Us: editor@thefreestater.co.za
    Contact: +27 76 183 2923

    Facebook X (Twitter) YouTube WhatsApp
    Our Picks

    Over 200 learners fall ill in food poisoning scare at Bloemfontein school

    March 10, 2025

    Exco moves to fast-track Dark City, G-Hostel housing projects

    March 6, 2025

    10 killed, 27 injured in horrific N6 highway bus crash

    March 5, 2025
    Most Popular

    REVIEW | The 2019 Mercedes-Benz A200 sedan is a mixed bag

    December 18, 20190 Views

    Country Music Superstar to Host Enormous Concert to Benefit Hall of Fame

    January 6, 20200 Views

    Palm Springs Film Festival Awards 2024 Red Carpet: All National Celebrity Looks

    January 7, 20200 Views

    Type above and press Enter to search. Press Esc to cancel.