An international campaign was launched in Johannesburg yesterday to bring the self-exiled Gupta brothers back to SA to face trial on charges of looting billions of rands from state institutions. The campaign plans to publish what it calls an 'Orange Book', listing all the organisations and persons that have been involved in state capture.

This came in tandem with news of a double strike against Gupta Inc by the NPA this week. Its Investigating Directorate (ID) is heading to court to preserve Optimum Coal Mine and Optimum Coal Terminal, the Guptas’ most prized package of assets in SA, and separately seeking to block a debt-to-equity takeover by Daniel McGowan, one of the family’s former business associates, who is on the verge of snapping it up for a symbolic R1.

This is the gist of a Daily Maverick report on the ID's two applications for preservation orders under the Prevention of Organised Crime Act that were filed this week.

One seeks to grab the Gupta family’s shares in Optimum Coal Mine and Optimum Coal Terminal, following their controversial acquisition – allegedly funded with the proceeds of state capture crimes – just over five years ago.

The state contends that cash from Transnet, the Transnet Second Defined Benefit Fund and Eskom was mobilised and channelled through, among others, Albatime, Trillian Capital Partners and Centaur Mining to help the Guptas pay for the 2016 purchase.

The second is a parallel application to preserve a R1.3bn creditor claim held by Templar Capital, a Bermuda company through which McGowan now stands to acquire the business of Optimum.

Affidavits filed by Hermione Cronje, the outgoing head of the ID, set out details of the state’s double legal bid in anticipation of forfeiture applications likely to follow in the coming months.

Both applications are premised on the state’s contention that the deals – the original Gupta acquisition of the Optimum package and the latest being driven through business rescue proceedings – are tainted by the proceeds of crime.

The Optimum deal was signed in December 2015 amid a national storm around the firing of former Finance Minister Nhlanhla Nene and subsequent reports of former Mining Minister Mosebenzi Zwane’s trips to Zurich, allegedly to help seal the deal for the Guptas.

With this case, the NPA seeks to have forfeited to the state the proceeds of one of the ‘primary criminal schemes’ identified in former Public Protector Thuli Madonsela’s 2016 State of Capture report, Cronje says, according to the DM report.

Three sets of business rescue practitioners (BRPs) – those of Optimum Coal Mine (OCM), Optimum Coal Terminal and the BRPs responsible for Tegeta Exploration and Resources – have refused to grant the NPA section 133 consent for the applications filed at the Gauteng High Court (Johannesburg) on 8 December.

This section of the Companies Act dictates the limits within which legal proceedings may be brought against companies in business rescue). Cronje, in court papers, said this was unfortunate but hoped that the BRPs would come round.

She warned that some of them may be guilty of an offence under the Prevention of Organised Crime Act should they proceed with implementation of the OCM rescue plan and thereby give effect to the debt-to-equity deal.

The NPA requires the court’s leave to proceed with the applications filed. While concerned about the dissipation of assets, Cronje says the immediate risk has been mitigated by an undertaking from the BRPs to give the state notice of circumstances that may lead to the imminent implementation of the business rescue plan.

The NPA’s applications come just six months after Paul Holden, of Shadow World Investigations, testifying at the Zondo Commission, urged authorities to attach Optimum.

Full Daily Maverick report