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THE MISSING GUPTA JET SPOTTED IN DUBAI


Date: 2018-03-06
Newsfeeds24, Gupta, Export Development Canada, Canada, Bombardier, Guptas,News,

Newsfeeds24, Gupta, Export Development Canada, Canada, Bombardier, Guptas,News,

The last time the plane was seen was in Russia in February, and then reportedly flew to Dubai on Monday night.

The missing plane, that belongs to the Guptas, has surfaced in Dubai, according to an online source. The Bombardier Global 6000 was no longer visible on the flight tracking website, after being spotted in Russia in February.

The website recently said that it has information showing that the plane flew from Dubai South Airport to Delhi Indira Gandhi International Airport on March 3, and returned to Dubai South on Monday night.

The plane is at the centre of a dispute between Canada's state import/export bank, Export Development Canada (EDC) and the Guptas. EDC, which gave the Guptas a loan to buy the aircraft, has taken the Guptas to court, claiming they defaulted on the loan agreement. EDC wants the plane permanently grounded, fearing it could be used for unlawful means.

According to the online source, the EDC claims in court papers that the aircraft carrier, Execujet, terminated its agreement with the Guptas in October 2017, claiming that it was suffering from the intense media scrutiny.

"Due to recent events, we are no longer able to continue rendering the services under the aforementioned agreements for fear of attracting immense negative publicity and reputational damage," Execujet reportedly told the EDC on October 5 last year.

The EDC loaned the money to the Guptas because it wanted to help Bombardier Inc, the Canadian aerospace firm, land the sale. The Gupta's now owe the bank $27 million, of an initial loan of $41 million.

There is an arrest warrant out for Ajay Gupta, and TimesLive reported on Monday that arrest warrants have been issued for his brothers, Atul and Rajesh, too.

The EDC reportedly said in court papers that "there is a very real concern" that the plane will help the brothers evade justice.

The EDC's case is expected to be heard in the high court in Johannesburg on Tuesday, according to a report by the Washington Post.




Article Tags: News Guptas Bombardier Canada Export Development Canada Gupta Newsfeeds24

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