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Dr. Mahtani Honoured With Forbes Awards For His Contributions

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Dr. Rajan Lekhraj Mahtani is one of the most regarded and respected businessmen in Zambia. Dr. Mahtani was recently bestowed with one of the most prestigious awards across Africa. The annual Forbes-FIN (Foreign Investment Limited) roundtable conference was recently concluded via online media and broadcasted via YouTube medium. As a result of the ongoing coronavirus pandemic, this year’s conference was held via video conference wherein all participants attended the event from their respective locations. Dr. Rajan Lekhraj Mahtani spoke about the significance of political leadership in healthcare for the growth and development of the sector. The roundtable conference was an astounding success with participants coming from different fields and areas including members of international business communities. Apart from the roundtable conference, the event was also noted for the annual Forbes ‘Best of Africa’ awards. The awards are presented by Forbes in partnership with FIN to visionaries, entrepreneurs and businesses with significant and long-term contributions in philanthropy and leadership for growth and development of the nation.

For his significant contributions towards the banking sector of Zambia and redefining it, Dr. Rajan Lekhraj Mahtani was presented with the Forbes ‘Outstanding Entrepreneur of the Year’ 2021 award. Dr. Rajan Mahtani’s contributions in the business, economic and philanthropic areas has been significant. He is the founder and present Group Chairman of Mahtani Group which was established in the year 1981. The Mahtani Group quickly rose to become one of the top conglomerates across Zambia, expanding to various sectors like Insurance, Financial Services, Agriculture, Mining, Real Estate and Energy. Furthermore, the company also expanded to several nations such as South Africa, Malawi, Zambia and other parts across the globe. In a similar manner, Dr. Mahtani founded Finsbury Investments which is one of the top financial firms across Zambia. Apart from his business contributions, Dr. Rajan Mahtani is also known for his philanthropic and charitable contributions. Some of these contributions included Prison Fellowship Zambia and Stephen Malama award and scholarship for top law graduates in Zambia.

Dr. Rajan Mahtani Wins The Long-Standing Battle For Portland Cement At The Court Of Appeal

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After the announcement of the Court of Appeal regarding the Portland Cement Zambia case, it is established now that Dr. Rajan Mahtani is the actual owner of the factory. While this decision came a bit late as Dr. Mahtani had to wait for more than a decade for this decision, the final decision from the Court of Appeal was clear, transparent and based on the evidences. According to this decision, Dr. Rajan Mahtani held 58 percent shares at the factory and was the majority shareholder. On the other hand, the Ventriglias held only 42 percent shares and were the minority shareholders without any legal ownership over the factory. Based on this decision, it was declared that Dr. Rajan Mahtani is the actual owner of the factory.

To arrive at this decision, justice Mwinde from the Court of Appeal also declared the various evidences, testimonials and other documents which helped the court in arriving at the decision. One of the major evidences came from the original Shareholders’ Agreement which was established in the year 2007. According to this agreement, Dr. Rajan Mahtani had contributed a sum of USD 250,000 equivalent to 1 billion kwachas for taking over 58 percent shares of the Zambezi Portland Cement factory. This exchange has been officially written on the page number 663, Volume- Record of Appeal of the shareholders’ agreement. Furthermore, this written statement confirmed that Dr.

Rajan Mahtani was not liable to any other costs associated with the share transfer and the responsibility of the PTT (property transfer tax) went to the vendor in this case.

Furthermore, the judge from the Court of Appeal also discarded all forgery related allegations by confirming that the practice of electronically affixing signatures was common practice at Zambezi Portland Cement and since it is an accepted practice, the forgery case was made null and void.