A multimillion-rand 10-year contract awarded to Gupta-owned VR Laser in breach of Denel's own procurement processes

Former Denel Group CEO, Zwelakhe Ntshepe has conceded that he failed to act in the best interest of Denel when he approved the awarding of a multimillion-rand 10-year contract to Gupta-owned VR Laser in breach of Denel's own procurement processes. The State Capture Commission of Inquiry in Johannesburg also heard that Denel bought 51% into a company called LMT holdings with an advanced payment of R12 million despite the fact that the company was already in financial trouble.