Gupta-linked firm that got cushy Sandton property deal goes bung
Supreme Court of Appeal rules that Kgoro Consortium must be liquidated
A Gupta-linked company that secured prime Sandton property for development in a cushy deal with the City of Johannesburg has lost a court bid to halt its liquidation.
The matter before the Supreme Court of Appeal (SCA) involved the Kgoro Consortium and its majority shareholder Regiments Capital, believed to have scored several contracts from state entities thanks to its connections with the state capture-accused Gupta family.
Cedar Park, a wholly owned subsidiary of Kgoro, concluded a deal with the city to obtain three hectares of prime property in Sandton, near Sandton City, the five-star Michelangelo Hotel, Nelson Mandela Square and the Gautrain station...