Monday, 18 November 2019 13:09

The Gupta family house in Saxonwold was sold at auction for R2.6m, according to the auctioneer  Park Village Auctions.

Guptas bought the property for R3.2m in 2011 and it is the same house from which Tshepiso Magashule, son of ANC secretary general Ace Magashule, was forcefully removed, according to a report by Mail & Guardian.

Park Village Auctions lists the company Confident Concept, which is now in business rescue, as the owner of the house. Atul, Chetali, Rajesh, Arti and Varun Gupta are all listed as past directors, according to company records.

Several Gupta companies and properties are under business rescue, and currently being sold off to recover debts.

The property includes a plot of almost 1,200m2 with a three-bedroom home, a swimming pool and a staff bedroom.

Park Village Auctions did not want to confirm the identity of the buyer.

Meanwhile the Export Development Canada (EDC), the Canadian state-owned enterprise which gave members of the controversial Gupta family money to purchase a private jet, are now hoping to sell it after a lawsuit between the export credit agency and a Gupta-owned company Westdawn Investments drew to a close in the UK.

The EDC has since expressed regret over its business relationship with the Guptas, members of which have been implicated in corruption and state capture in SA.