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South African Gupta-Linked Firm Liquidated Over Debt, Sources Say

  • Westdawn, trading as JIC, owes more than 60 million rand
  • Parent company Oakbay said to change name, set up new offices
mine truck mining hp
Photographer: Vincent Mundy/Bloomberg
Updated on

A South African mining contractor owned by the Gupta family has been put into liquidation, according to people with knowledge of the matter.

Westdawn Investments, which does business as JIC Mining Services (Pty) Ltd., has debt of almost 60 million rand ($4.2 million), said the people, who asked not to be identified because the information isn’t public. The company received a liquidation letter on Friday from a liquidator appointed by the High Court, they said. Kal Tire Mining, which JIC owes 900,000 rand, brought the application, the people said.