Days before R1.26-billion in frozen funds was due to be released to Gupta-linked Chinese rail group CRRC, the Gauteng High Court in Pretoria on Tuesday handed down an order that the monies remain frozen until the company provides a bank guarantee for the same amount to the South African Revenue Service (Sars). An additional R1.5-billion will also remain frozen pending a bank guarantee, meaning a staggering R2.76-billion will remain preserved while Sars finalises a tax claim against CRRC.
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