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Oakbay: We never claimed Gordhan has power to intervene with banks

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Cape Town - Oakbay Investments wants certain parts of Finance Minister Pravin Gordhan's founding affidavit to prevent him from intervening with banks on the company's behalf struck out.

Ronica Ragavan, acting CEO of Gupta-owned Oakbay Investments, states in an affidavit filed in the North Gauteng High Court on Friday that Oakbay regards certain material in Gordhan's affidavit as "irrelevant, scandalous and/or vexatious".

This includes a statement by Gordhan that there were continued assertions by Oakbay that he, as minister of finance, should intervene in or exert pressure upon the banks regarding their closure of the Oakbay accounts. Gordhan regarded these continued assertions as "harmful to the banking financial sectors, to the regulatory scheme created by law, the autonomy of both the government regulators and the registered banks themselves".

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