THE Sekunjalo Group (Sekunjalo), which includes Independent Media and 30 other companies, yesterday asked the Competition Tribunal to consider a further extension to the current interim relief it granted the group, or there could be catastrophic consequences.
The extension is being opposed by Standard Bank, FirstRand, Access Bank, Mercantile Bank and Nedbank.
The interim order, granted on September 16, 2022 and extended in March this year, came after several of the country’s banks closed transactional facilities for each of the companies within the Sekunjalo Group.
The interim relief ordered that the bank accounts that had been closed be reopened with the same terms and conditions as before the closure, and prevented the banks involved from closing any Sekunjalo accounts for six months, or until the investigation being conducted by the…