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Court must dismiss Denel bid with costs, says Treasury

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Johannesburg – National Treasury asked the North Gauteng High Court to dismiss Denel's application with costs, after the state-owned arms manufacturer asked the court to force Treasury's hand in approving its joint venture with Gupta-linked VR Lazer Asia. 

The responding affidavit was received by the court on Friday, a week after Finance Minister Malusi Gigaba met with Denel board chairperson Daniel Mantsha in Durban, where the minister demanded the company withdraw its court application, according to the Sunday Times.

Fin24 has a copy of the 112-page responding affidavit signed by former Treasury director general Lungisa Fuzile. It was one of his final acts in that role, as he bid farewell to staff on Monday, after resigning from the post in April. 

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