The Guptas' Islandsite Investments company is fighting the 'unacceptably cheap' R20 million sale of the family's Constantia mansion – which it says has been left 'derelict' by business rescue practitioners. | karynmaughan
The Guptas' Islandsite Investments company, which was acquitted of money-laundering charges last month, is now fighting the"unacceptably cheap" R20 million sale of the family's Constantia mansion – which it says has been left"derelict" by business rescue practitioners.
Islandsite and its director, Ronica Ragavan, who was also acquitted of money-laundering charges, won the first round of that battle on Tuesday, when Free State High Court in Bloemfontein Acting Judge Rudie Cronje interdicted the transfer of the mansion to its new owners, pending the company's application to have its sale declared unlawful and set aside.
"It would be of little, if any, assistance to [Islandsite and Ragavan] to sue for damages if the property never had to be sold in the first place," Cronje said in his ruling.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.