Gupta companies push for Bank of Baroda to stay in SA

Photo_Web_Bank_Baroda_010318

File: The Bank of Baroda announced last month that it will close local operations at the end of the month.

File: The Bank of Baroda announced last month that it will close local operations at the end of the month.

Photo_Web_Bank_Baroda_010318

File: The Bank of Baroda announced last month that it will close local operations at the end of the month.

File: The Bank of Baroda announced last month that it will close local operations at the end of the month.

JOHANNESBURG - Twenty Gupta-owned companies want the North Gauteng High Court to stop the Bank of Baroda from shutting down its local operations.

The bank announced last month that it will close at the end of the month.

The court had ordered the bank to continue providing banking services to the embattled Gupta companies in order to prevent the loss of thousands of jobs.

READ: Bank of Baroda helped Guptas move money out of SA: report

The Gupta companies argue that by leaving South African shores the bank will be in contempt of court.

The Reserve Bank announced it would ensure a smooth withdrawal that will not affect clients.

The court will hear the companies&39; urgent application on Thursday.