Around 20 Gupta-owned or linked companies will approach the court for an interdict. Companies owned by the embattled Gupta family will be in the Pretoria High Court on Friday in an attempt to stop the Bank of Baroda from closing their accounts.

These include tech distribution firm Annex Distribution‚ Confident Concepts‚ Sahara Computers‚ VR Laser Services‚ property owner Islandsite Investments 188‚ Koornfontein Mines‚ Oakbay Investments‚ Optimum Coal Mine‚ Shiva Uranium‚ Tegeta Exploration‚ Westdawn Investments‚ Idwala Coal‚ and Mabengela Investments‚ all of which feature prominently in the leaked Gupta e-mails.

Many of the companies share Oakbay CEO Ronica Ragavan as director. Ragavan said in court papers the combined salary bill for the entities is R164-million.

Baroda gave the family three months notice of the closures‚ which are due to come into effect at the end of September.

on Friday morning that Baroda’s court papers reveal “in devastating detail why it can no longer entertain the high-risk‚ politically exposed Gupta empire”.

On Monday news broke that Baroda had been fined R11-million by the Financial Intelligence Centre (FIC) for various transgressions of banking legislation during the Guptas’ purchase of Optimum Coal Mine.

The papers show that Baroda reported 45 suspicious transactions with the FIC between 16 September 2016 and 14 July 2017. These transactions amount to a staggering R4.2-billion.

The big four banks closed Gupta-linked accounts last year and after various other banks refused to accommodate them‚ forcing the family to make use of Baroda for all its local financial needs.

According to the report‚ the Gupta companies maintain that if Baroda follows through on the shutdown‚ they would be unable to pay salaries to thousands of workers and claim that it would ultimately “lead to their demise”.

Baroda meanwhile has asserted its small staff complement of 16 is not adequate to monitor the Gupta accounts at a high level and suggests that Gupta-owned companies have entered into “contracts with local pay agencies to disburse salaries”.