A visibly weak Ragavan was joined in the dock by her co-accused in the Vrede Dairy feasibility study case, namely the former Deputy Director-General (DDG) of the Department of Trade and Industry (DTI) and Transnet board member, Iqbal Sharma; the former Free State Agriculture Department Head, Peter Thabethe; the current Deputy Director-General at the Department of Cooperative Governance and Traditional Affairs (Cogta), Sylvia Dlamini; and Bloem Water Chief Executive Officer (CEO), Limakatso Moorosi. 

Sharma’s businessman brother-in-law, Dinesh Patel, was not present due to an illness and as a result, a warrant or arrest has been issued for him, but has been deferred until 6 December, when the matter resumes in this same courthouse. 

Ragavan was ordered to hand over her passport and notify the investigating officer, should she leave the Gauteng province where she resides.

Ragavan’s senior legal counsel, Dawie Joubert, threw one or two jabs at the state during proceedings, saying his client had been apprehended before in connection with the Vrede matter back in 2018, and the charges were later withdrawn. This criminal case does not pertain to the entire project per se.

In 2011, the Free State Agriculture Department paid over almost R25 million to Nulane Investments, which was owned by former Sharma, for the Vrede feasibility study. Nulane – represented by Sharma’s brother-in-law, Dinesh Patel – then negotiated and subcontracted the same feasibility study to forensic auditing firm, Deloitte, for R1,5 million. They went further and subcontracted the work already carried out by Deloitte to Gateway Limited and paid them R19 million. The state alleges the funds were thereafter laundered into varied accounts, including that of Islandsite Investments 180. It is for the money-laundering that occurred that the Gupta family has now been linked to the case.

The state has, in light of the money-laundering allegations, approached Interpol to have them issue red notices for Atul and Rajesh Gupta, as well as for their wives Chetali and Arti.

Whilst red notices for the Gupta family are under consideration, the notices have been issued for their associates, former Nulane Investment Bank of Baroda account signatory, Ankit Jain;  Director of Wone Management, Ravindra Nath; and the Directors of Pragat Investments, Ramesh Bhat and Jagdish Parekh.

Ragavan’s most recently submitted 54-page affidavit, in which she proclaims Atul and Rajesh Gupta’s innocence in the case, pertains to a draft restraint order granted to the National Prosecuting Authority’s Investigating Directorate in June 2021 seizing the assets of the Gupta family in addition to other accused.

The Guptas previously attempted to have Ragavan represent Islandsite in proceedings pertaining to the restraint order, however, their application was denied by the Free State High Court President, Cagney Musi, in light of the company being placed under business rescue. Musi echoed the state’s sentiments that the assigned business rescue practitioners, Knoop and Kloppers, were the only ones who could represent Islandsite in said proceedings.

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