KwaZulu-Natal businessman, Thoshan Panday has been granted bail of R100,000 by the Durban Magistrate’s Court.
Panday, 52, was arrested on September 5, 2024, for allegedly defrauding the South African Revenue Services (Sars) of R7.3 million.
He faces 27 counts of fraud, alternatively contraventions of tax legislation which outlines false returns in respect of VAT and Annual Income Tax.
When he first applied for bail, his request was rejected because it was said that he had breached his bail conditions.
Investigating Directorate Against Corruption spokesperson, Henry Mamothame said that Panday had travelled to the US, deviating from what the court had authorised.
In another matter, Panday is also facing corruption, fraud and money laundering charges in relation to the 2010 Soccer World Cup.
The State alleges that Panday was effectively in control of several entities which had received payments from the South African Police Services (SAPS) in an amount of approximately R47 million owing to a corrupt relationship with members of the Supply Chain Management Division of the SAPS.
The State further alleges these payments were allegedly made in respect of services rendered to the SAPS preceding and during the Soccer World Cup in 2010.
His co-accused include close family members like his 69-year-old mother Arvenda, his wife Privisha Panday, 45, his sister Kajal Ishwarkumar, 37, brother-in-law Seveesh Maharaj, 44, and personal assistant Tasleem Rahiman, 35.
Panday is out on R100,000 bail in this matter as well.
Mamothame said Panday has been ordered to appear in the Durban High Court on February 15, 2025, for both the corruption and the tax fraud cases.
IOL News