Director, Nulane Investments
Iqbal Sharma: what the State Capture Commission found, and what happened next
Where it stands
Sharma is an accused in the Nulane retrial. The case was re-enrolled on 4 June 2026 and postponed to 22 September 2026. The outcome of that date was not confirmed.Named in the Commission's report: Part VI Vol 1 (Estina).
What the Commission found
- The Commission heard that Sharma subcontracted the R24.9 million Nulane feasibility study to Deloitte for R1.5 million.2Report reference: Part VI Vol 1 (Estina)
What happened next
- Discharged. The Free State High Court discharged the Nulane accused.2
- Acquittal overturned. The Supreme Court of Appeal set aside the acquittals and ordered a retrial before a different judge.2
- Case re-enrolled at the Bloemfontein Magistrates' Court after the accused's Constitutional Court bid failed, and postponed to 22 September 2026 for disclosure of the docket.1,3
Their response
No public response was found in the sources reviewed.
Sources
- African News Agency, Gupta-linked Vrede dairy farm case back on court roll (4 June 2026)
- Daily Maverick, NPA secures major State Capture win: Gupta associates Sharma, Ragavan, and Free State officials heading back to court (12 June 2025)
- EWN, NPA re-enrolls Gupta-linked Nulane corruption case following appeal court victory (4 June 2026)
Commission findings are not criminal convictions. Some findings have been challenged in court. Each finding is attributed to the Commission and linked to its report.