Another auditing firm drops Oakbay Resources


File: Indian businessmen, Ajay Gupta and younger brother Atul Gupta and Oakbay MD Jagdish Parekh at a Business Day interview in Johannesburg on 2 March 2011, regarding their professional relationships.

JOHANNESBURG - Yet another auditing firm has cut ties with the Gupta-owned Oakbay Resources.

Sizwe-Ntsaluba Gobodo's been linked to the company for the past 18 months.

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It says the decision to stop doing business with Oakbay comes after it considered its relationship with the scandal-laden company.

Sizwe Ntsaluba Gobodo became involved with Oakbay in April last year after KPMG resigned as its auditors.

At the time, KPMG cited concerns that a continued relationship with Oakbay would pose a reputational risk to the firm.

Oakbay's been accused of facilitating state capture by the Gupta family.

Last year all major local banks closed the accounts of Gupta linked and owned companies.