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OUTA claims Indian banks gave Guptas inflated bonds on properties

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Cape Town - The Organisation Undoing Tax Abuse (OUTA) is taking action against the Bank of Baroda and the State Bank of India, for what it claims to be a failure to comply with banking laws.

“We have compiled evidence to take action against these banks and handed it to the Registrar of Banks and the Financial Intelligence Centre (FIC),” said OUTA chief operations officer Ben Theron.

“We want these authorities to act to ensure that the Bank of Baroda and the Bank of India cease all business with the Guptas, and revoke their licences to trade within SA.”

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