Latest news with #Gupta-owned
Eyewitness News
a day ago
- Business
- Eyewitness News
After compound sold, Gupta brothers have no significant assets in SA
JOHANNESBURG - The business rescue practitioners tasked with disposing of the Gupta brothers' properties said there were no more significant assets belonging to the Gupta brothers in South Africa. On Tuesday, the auctioneers of the infamous Gupta compound announced the sale of the compound to a single buyer. The three properties were sold for R34.5 million. The business rescue practitioners for the Gupta-owned properties announced that they accepted and confirmed an offer for all three Saxonwold houses that were owned by the controversial brothers. The offer was made by a single buyer who now owns a 17-bedroom en-suite property, an 8-bedroom property and a more modest 3-bedroom house. The auctioneers, Park Village Auctions, said the business rescue practitioners would receive their funds in accordance with the terms of the business rescue plan and the Gupta brothers' creditors couls also expect to receive payment. The practitioners said that since the Guptas fled from South Africa in 2016, the assets from their companies, including the Optimum coal mine and The New Age Media, had been disposed of.
The South African
2 days ago
- Business
- The South African
All Gupta mansions sold at nearly half its combined worth
Park Village Auctions has confirmed the sale of all three notorious Gupta-owned mansions in Saxonwold for a combined R34.5 million, almost half their original valuation. As reported by BusinessTech , the properties at 3, 5, and 7 Saxonwold Drive, along with their contents, were initially valued at R64.5 million. The final sale price represents a 47% discount, or R30 million less than their combined pre-sale worth. The sales form part of the business rescue process for Confident Concept (Pty) Ltd, one of several Gupta-linked companies mired in legal and financial trouble. The company was in dispute with the City of Johannesburg over unpaid rates and taxes amounting to R726 695 in 2022, while facing other litigation alongside related entities. A Supreme Court of Appeal ruling ordered that Confident Concept's assets go under the hammer. Only one of the three mansions, No. 3 Saxonwold Drive, sold at the public auction in July, fetching R3.3 million, 40% below its R5.5 million valuation. The other two properties failed to attract buyers at auction and were later sold privately. Park Village Auctions confirmed that the Business Rescue Practitioners (BRPs) have accepted the final offers, with all securities in place. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The South African
27-07-2025
- Business
- The South African
Inside the Gupta mansion sold for almost HALF the price
One of the former Gupta family's three Saxonworld mansions was sold for almost half its price at an auction this week. The property received just one bid. The estates have made headlines over the years after the City of Johannesburg revealed that it owned over R700 000 in unpaid municipal rates. As part of a business rescue plan attached to the controversial family's bankrupt Confident Concept, the properties and moveable assets were placed on public auction by the Supreme Court of Appeal According to Park Village Auctions, just one Gupta-owned property was auctioned off this week – number 3 Saxonworld Drive, at just R3.3 million. The three-bedroom staff residence received just one bidder. The 3,687m², single-storey home was initially priced at R5 million. Auctioneer Clive Lazarus said: 'The property, which was reportedly used for staff accommodation or security quarters, is in a state of disrepair'. Take a look inside… Inside number 3 Saxonworld Drive. Images via Park Village Auction Images via Park Village Auction The auction also placed numbers 5 and 7 Saxonworld Drive – part of the Gupta compound, on auction. Neither received any bids. Number 5 is a three-story, eight-bedroom, five-en-suite mansion with an indoor pool and rooftop patio. While the R21.73 million mansion remains on the market, its contents were sold for R100 000. Number 7 Saxonworld is the biggest property, boasting 17 en-suite bedrooms, a cinema, a beauty salon, and a triple-volume foyer. It is valued at R36.86 million. The contents of the hotel-esque property sold for just R60 000. According to Park Village Auctions disposal manager Graham van Niekerk, the two properties failed to sell due to several factors, such as high municipal rates, restrictive residential zoning, structural damage, and the 'stigma' associated with the Gupta name. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 . Subscribe to The South African website's newsletters and follow us on WhatsApp , Facebook , X, and Bluesky for the latest news.
The Citizen
24-07-2025
- Business
- The Citizen
Top 10 stories of the day: Gupta house sold
Here's your daily news update for Thursday, 24 July 2025: An easy-to-read selection of our top stories. In the news today, one of three Saxonwold properties linked to the Gupta family has been successfully sold at auction on Thursday for R3.3 million. Meanwhile, the defence in the Senzo Meyiwa murder trial has revealed that the accused intend to apply for their charges to be dropped. Furthermore, a Tammy Taylor franchisee who lost R5.8 million has spoken out about Peet and Melany Viljoen. Weather tomorrow: 25 July 2025 A yellow level 2 warning has been issued for damaging waves south of Durban, with wet and windy weather forecast inland. Full weather forecast here. Stay up to date with The Citizen – More News, Your Way. Gupta's property in Saxonwold compound sold for R3.3m at auction [PICS] One of three properties in Saxonwold, Johannesburg, linked to the Gupta family was successfully sold at auction on Thursday for R3.3 million. The public sale was part of an effort to recover funds from the family's confiscated estate. Number 3 Saxonwold Drive, part of the Gupta compound, seen on 24 July 2025. Picture: Michel Bega/The Citizen The homes are owned by Confident Concept, a Gupta-owned company currently under business rescue. The auction forms part of a larger effort to liquidate assets tied to the controversial family. CONTINUE READING: Gupta's property in Saxonwold compound sold for R3.3m at auction [PICS] Gupta's property in Saxonwold compound sold for R3.3m at auction [PICS] It was an eventful day in the Gauteng High Court in Pretoria on Thursday, as the defence in the Senzo Meyiwa murder trial revealed that the accused intend to apply for their charges to be dropped. Proceedings resumed with officials from the Department of Correctional Services appearing before Judge Ratha Mokgoatlheng to address his earlier ruling regarding accused number five, Fisokuhle Ntuli. State Prosecutor George Baloyi is seen at Pretoria High Court on 15 September 2022. Picture: Gallo Images/City Press/Tebogo Letsie After resolving the prison-related matters, prosecutor George Baloyi closed the state's case. 'It is precisely three years since the state started leading evidence, we formally close the case,' he said. With the state having closed its case, attention shifted to the defence. Defence attorneys disclosed that they have been instructed to file an application to have the charges dropped under Section 174 of the Criminal Procedure Act. CONTINUE READING: Senzo Meyiwa murder accused seek to have charges dropped as state closes case Tammy Taylor franchisee who lost R5.8 million speaks out about Peet and Melany Viljoen A Tammy Taylor franchisee, who lost the R5.8 million she paid for two Tammy Taylor salons and a 30% stake in Tammy Taylor Global Franchising, says she had enough reason to 'get weird' when she went into business with the Viljoens. After the Pretoria High Court ordered Peet and Melany Viljoen to refund a franchisee R600 000 that she had paid for a Tammy Taylor salon that never materialised, the Viljoens left South Africa. Peet and Melany Viljoen of Tammy Taylor fame. Picture: Facebook In his first video from Miami, Peet says that Hantie Oosthuyzen, who paid R5.8 million for two salons and a stake in the business, became 'weird', and after they addressed the issue on WhatsApp, they did not hear from her again. Oosthuyzen told The Citizen that she used some of the investments she inherited after her husband passed away from cancer in 2022 to pay for the salons and her share in Tammy Taylor Global Franchising. Oosthuyzen has a minor child and still works in her profession, as she is now the breadwinner. CONTINUE READING: Tammy Taylor franchisee who lost R5.8 million speaks out about Peet and Melany Viljoen MPs asked to recuse themselves from Mkhwanazi police corruption allegations probe EFF president Julius Malema says Kenny Kunene should tell the truth about why he was at the house of a man suspected of killing musician and businessman, DJ Sumbody. Kunene was found in a Sandton house where businessman Katiso 'KT' Molefe was arrested for the murder of Oupa Sefako, also known as DJ Sumbody. EFF leader Julius Malema during a press briefing on 24 July 2025. Picture: X/@EFFSouthAfrica He told the police that he was there to facilitate an interview for a journalist who works for his online publication. But Malema on Thursday described this as a 'story'. 'To take a journalist is not a secret operation. Who is that journalist? Why would you take a journalist to someone who just came out of prison, someone who is on bail, as an MMC?' he said. CONTINUE READING: Malema accuses Kunene of lying about relationship with man accused of murdering DJ Sumbody Health care crisis: SA loses nearly 6 000 doctors and nurses a year South Africa's public healthcare system is hemorrhaging medical professionals at an alarming rate, with nearly 6 000 doctors and nurses resigning annually from state facilities. Recent parliamentary data reveals the devastating scale of the brain drain crippling the country's health sector. The brain drain is crippling the country's health sector. Image: iStock Official figures from the Persal system show that between 2013 and 2025, South Africa lost 12 745 doctors and 58 897 nurses from public health care facilities. Combined, this represents an average of approximately 5 900 doctor and nurse resignations per year over the 12-year period from 2013 to 2024. CONTINUE READING: Health care crisis: SA loses nearly 6 000 doctors and nurses a year Here are five more stories of the day: Yesterday's News recap READ HERE: Top 10 stories of the day: NA approves Appropriation Bill | US Bill's bid to sanction ANC officials | Inflation increases
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The Citizen
24-07-2025
- Business
- The Citizen
Gupta's property in Saxonwold compound sold for R3.3m at auction [PICS]
The auction followed a six-week campaign of marketing and public viewings. Number 3 Saxonwold Drive, part of the Gupta compound, seen on 24 July 2025. Picture: Michel Bega/The Citizen One of three properties in Saxonwold, Johannesburg, linked to the Gupta family was successfully sold at auction on Thursday for R3.3 million. The public sale was part of an effort to recover funds from the family's confiscated estate. The homes are owned by Confident Concept, a Gupta-owned company currently under business rescue. The auction forms part of a larger effort to liquidate assets tied to the controversial family. Number 7 Saxonwold Drive, part of the Gupta compound, seen 24 July 2025. Picture: Michel Bega/The Citizen Auction at Gupta's Saxonwold compound According to Park Village Auctions, the auction followed a six-week campaign of marketing and public viewings. The property sold – listed as the third house – sits on Saxonwold Drive. It is a three-bedroom, single-storey home valued at R5.5 million, and it went under the hammer for R3.3 million. ALSO READ: Gupta-linked Saxonwold mansions head to auction after seven-year legal battle The sale is pending approval by the appointed business rescue practitioners (BRPs). The other two properties on offer did not attract successful bids. Property number five is an eight-bedroom, three-level mansion, while property number seven is a grand 17-bedroom residence, each with an en-suite bathroom. The indoor swimming pool at number 5 Saxonwold Drive, part of the Gupta compound, seen on 24 July 2025. Picture: Michel Bega/The Citizen Despite the lack of sale, movable assets inside the homes did draw bids. Items from the mansion brought in R100 000 and the contents of house number seven were bid at R60 000. These sales, like the real estate transaction, are also subject to confirmation. Watch the video below: Gupta Mansions. One 1 sold at auction, number 3 Saxonworld Drive valued at R5M selling for R3.3M#Gupta #StateCapture — Ntokozo Khumalo (@NtoksKhumalo) July 24, 2025 Municipal valuations Auctioneer Clive Lazarus weighed in on the results, saying while there was strong interest ahead of the auction, the properties' distinctive nature made it normal for such transactions to take longer to finalise. 'The municipal valuations and subsequent steep rates and taxes (up to R30 000 per month on a residential property) are obvious factors that would hinder the sale by auction,' Lazarus said. He said auctions represent only one element of a larger sales strategy, which was essential to ensure transparency in a case that has significant public interest. READ MORE: Batohi not worried about Omotoso's deportation as NPA plans to bring Gupta brothers back to SA 'The BRPs will likely make the properties available by private tender, leaving a little more room for buyers to investigate all potential avenues for their investment. 'It will also provide more anonymity for buyers. We will remain in discussions with the interested parties as we progress to the next phase. 'We are confident that we will realise these properties at realistic market rates,' he added. Number 5 Saxonwold Drive, part of the Gupta compound, seen on 24 July 2025. Picture: Michel Bega/The Citizen A bedroom at number 5 Saxonwold Drive, part of the Gupta compound, seen on 24 July 2025. Picture: Michel Bega/The Citizen Guptas flee SA The Saxonwold properties were deserted by the Gupta brothers – Atul, Rajesh and Ajay – when they fled South Africa for Dubai in the United Arab Emirates in 2018. Their departure came just before then-president Jacob Zuma was forced to step down by the ANC over his association with the family. These homes gained notoriety as locations where the Guptas allegedly hosted high-level politicians as part of efforts to exert undue influence on state affairs and secure government tenders. The trio is wanted by authorities in connection with several criminal investigations. Among the most prominent are the Nulane Investment fraud matter and the controversial Vrede Dairy Farm case. While a 2022 attempt to extradite Atul and Rajesh Gupta failed, the National Prosecuting Authority (NPA) has reaffirmed its determination to bring the brothers back to South Africa to stand trial. NOW READ: Wanted in SA: New extradition request to get Gupta brothers back gains momentum
