Tag Archives: Dr. Mahtani and finance bank

Dr. Mahtani Shares Eulogy For Late Kenneth Kaunda

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The entire Zambian nation recently woke up to the saddening news of the loss of his very-first President, Kenneth Kaunda. Dr. Mahtani, in his eulogy, praised Dr. Kaunda for his significant achievements in life, dedication towards the development and growth of Zambian nation as well as his sacrificial endeavour towards not only making Zambia independent but also uniting more than 70 tribes across Zambia into one national family and achieving the motto of ‘One Zambia, One Nation’.

Dr. Rajan Mahtani and late Kenneth Kaunda had several similarities in their philosophical underpinnings. One of the biggest associations was with the late father of Dr. Rajan Mahtani, Late Lekhraj Mahtani, who served as a Councillor in Ndola. Late Lekhraj Mahtani made significant contributions in the form of support and collaboration with Late Kenneth Kaunda in his quest for the freedom, uniting and development of the Zambian nation. This collaboration was taken ahead by Dr. Mahtani in the form of his dedicated business ventures for developing several provinces and cities of Zambia, bringing foreign direct investments in Zambia for improving its social, economic and technological position. Dr. Rajan Mahtani has further contributed to the Zambian nation with his charitable and philanthropic contributions such as development of facilities for less privileged people, development of the education system as well as charities for environmental protection. As such, it can be said that Dr. Mahtani is one of those few individuals in Zambia still following the path, legacy and philosophy underpinned by late Kenneth Kaunda.

Dr. Rajan Mahtani, despite remaining honest, ethical and transparent, achieved significant business success. This is the same philosophy of Dr. Kenneth Kaunda which Dr. Rajan Mahtani promotes and urges all Zambians to follow in their lives. By only following the principle of unity in diversity and ‘One Zambia, One Nation’, the Zambian nation will be able to grow and develop despite its significant differences and challenges. The eulogy shared by Dr. Mahtani focussed on this aspect and was beautiful.

Disturbances Created Despite Supreme Court Decision

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Dr. Rajan Mahtani is a prominent businessman in Zambia who has always remained at the legal side of the business. He is considered as among those few businessmen in Zambia who have achieved success in spite of the rampant corruption, bureaucracy and unethical practices across the nation, Dr. Rajan Mahtani has been able to maintain a healthy business portfolio of transparent businesses such as Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. At the same time, Dr. Mahtani continues to face challenges in his daily business operations. The prime example is the case of Portland Cement Zambia factory which dragged for more than 12 years before finally settling at the Supreme Court Zambia.

The first court to take the case was Lusaka High Court which announced its decision during May, 2018. However, this decision was controversial as the Ventriglias were announced as only majority shareholders and owners of the factory without any relevant evidence or testimonials. Then came the higher Court of Appeal which announced its verdict on 31st January 2019 in which the previous decision from the Lusaka High Court was rejected and Dr. Mahtani was announced as majority shareholder as well as legal owner of the factory. The third court was Supreme Court Zambia where a case was taken by the Ventriglia family claiming the decision from the higher Court of Appeal. The Supreme Court Zambia evaluated this claim and rejected it effectively due to lack of evidences, questioning circumstances as well as non-compliance of critical legislations.
However, it seems like the Ventriglia family have a blatant disregard for the highest-level court of the nation as they have continuous to mount their illegal status within the cement-manufacturing factory. Reports have indicated that hired thugs placed at the factory continuously prevented appointment of interim CEO so that no one takes charge of the factory. This attempt is a clear disregard of the judgement from the nations’ highest legal court. It seems like the Ventriglia family think themselves as above low. As of now, Dr. Mahtani has been given the official shareholding and legal ownership of the Portland Cement Zambia factory.

Final Verdict Regarding Portland Cement Zambia Claim By Ventriglia Declared By Supreme Court

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Dr. Rajan Lekhraj Mahtani is one of the most respected and noted businessman in Zambia. He is respected for not only his acute business sense and successful ventures, but also for his philanthropic and charitable contributions. He is noted for his contributions towards recreational facilities, education sector with establishment of the Steven Malama award and financial contributions. Working in a developing nation like Zambia is never easy, and Dr. Rajan Mahtani continuously faces challenges in the form of corruption, unethical practices. However, Dr. Mahtani has been able to overcome majority of these challenges, sooner or later. One of the biggest challenge which Dr. Mahtani faced was related to Portland Cement Zambia. The cement-manufacturing factory was received by Finsbury Investment via an original shareholders agreement. After receiving majority shareholding and ownership, Finsbury Investment helped bringing loans and funds from banks and financial institutions for completing the factory’s construction and growth plans. This is when the Ventriglia family decided to disrupt the operations by questioning the legality of the shareholders agreement. A case was registered at the Lusaka High Court after the factory was unethically taken over. This case dragged for more than a decade at the Lusaka High Court and despite this, the final decision from the Lusaka High Court was extremely controversial. Justice Nkonde announced Ventriglia family as the only shareholders of the Portland Cement despite lack of evidences from the Ventriglias’ side. Continue reading →

Dr. Rajan Lekhraj Mahtani Remains The Legal Proprietor Of Portland Cement After SC Confirmation

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According to the latest reports, the Supreme Court Zambia has effectively rejected the appeal from the Ventriglias. Few weeks earlier, the Ventriglias had challenged the decision of the higher Court of Appeal to establish Dr. Rajan Mahtani owned Finsbury Investments as the majority shareholder and legal owner of the factory. This decision was given by justice Mwinde on 31st January 2019. By giving this decision, justice Mwinde reversed the decision from the earlier court regarding this case, Lusaka High Court. It should be noted here that the judgement from the Lusaka High Court in the Portland Cement Zambia case came more than a decade later and was extremely controversial as decision was given in favour of the Ventriglias despite evidences stating otherwise.

After more than 16 months of the judgement by higher Court of Appeal, the Ventriglias again tried to throttle the legal decision by challenging it at the Supreme Court Zambia. To evaluate this challenge, a bench of three Supreme Court judges were established. After evaluation of the challenge, several details were established. According to law, it is essential that any claim against a previous court decision is made within 14 days of the decision itself. In case of the Lusaka High Court judgement on Portland Cement which was given in the month of May, 2018, Dr. Rajan Mahtani had registered a claim at the higher Court of appeal within two weeks. As such, his appeal was accepted at the higher Court and the decision was given on 31st January 2019. However, in case of the Ventriglias’ appeal to the Supreme Court Zambia, the appeal was made more than 16 months later. This is well beyond the legal precedence. Furthermore, the judges at the Supreme Court also confirmed that the evidences surrounding the appeal from the Ventriglias were dubious with no precedence. As such, the appeal by the Ventriglias regarding Portland Cement decision from higher Court of Appeal was effectively rejected.

Dr. Rajan Mahtani To Retain Leadership Of Portland Cement, Claim By The Ventriglias Rejected

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Finsbury Investments is one of the many companies owned by Dr. Rajan Mahtani that have made a lasting impression within the Zambian corporate with its transparent and ethical business practices. Zambezi Portland Cement is a Portland concrete assembling production line which was set up in the year 2004 and from that point forward, went through significant changes in its sharing pattern. The major and identified shareholding change was the joint changes made to its shareholding design. Dr. Rajan Mahtani possessed Finsbury Investments was given 58 percent shares of the production line, making him the dominant part investor and legitimate proprietor of the processing plant. Then again, the Ventriglias possessed Ital Terrazzo Limited was given 48 percent shares. The progressions were basic for getting advances from PTA bank just as allotted monetary establishments with the goal that the plant’s development can be finished. After the lawfulness of the shareholding changes were set up with the partners’ register, the PTA delivered cash. In view of these, PACRA rolled out the powerful improvements.

Nonetheless, things took a troublesome turn when the Ventriglias began utilizing their political and lawful campaigning for assuming responsibility for the Zambezi Portland Cement. They had the option to effectively convince the Lusaka High Court judge to give control of the Zambezi Portland Cement to them as it were. Nonetheless, the subsequent claim made to the higher Court of Appeal effectively turned around this exploitative choice from the higher Court of Appeal as justice Mwinde reversed the decision of the Lusaka High Court judge and announced Dr. Mahtani as the legal owner of the factory.

Now the Ventriglias have again tried to disrupt the peaceful operations of Zambezi Portland by registering a claim at the Supreme Court Zambia challenging the decision of the higher Court of Appeal. However, the decision from the Supreme Court was not surprising as the judges rejected this appeal due to lack of legal requirements and lack of evidentiary support.

Court Of Appeal Announces Final Results After Failure Of The Lower Court To Provide The Same

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Dr. Rajan Lekhraj Mahtani is a name majority of businesses in Zambia are aware of as a known businessman and charity worker in Zambia. Dr. Rajan Mahtani, as a nature of his business, has stayed in good personal and professional relationships with several noted businessmen, industrialists, politicians and several other noted figures and authorities in Zambia. One of them is late ex-President of Zambia, Levy Mwanawasa. Dr. Rajan Mahtani has maintained a long and professional relationship with the ex-president, event before he rose to prominence and became the President of Zambia.

However, Dr. Rajan Mahtani recently received a damning news when it was found that the daughter of the ex-President of Zambia, Miriam Mwanawasa, shared a social media post questioning the reputation of Dr. Rajan Mahtani. In her Facebook post, Miriam Mwanawasa claimed that Dr. Rajan Mahtani wanted to take over the farm at Masaiti District, which belonged to the Mwanawasa family. As a result of this serious claim, the Facebook post started making rounds across the social media platforms. When Dr. Rajan Mahtani came to know about this unethical and illegal post, he decided to register a press release in response.

In this press statement, Dr. Rajan Mahtani said that he maintained a long-term and positive personal and professional relationship with Levy Mwanawasa which stretched till his sad demise and remained even after that. As such, this claim made by the daughter of the late ex-President was not only shocking but also saddening. Dr. Rajan Mahtani clarified the rumour by saying that he never had any intentions of purchasing the said that and he never made any attempt, verbal or written, in this manner. At the same time, the Facebook post shared by Miriam Mwanawasa did not have any evidentiary support indicating that her post was authentic. As a result, her Facebook statement must be taken seriously or in any face value. Dr. Mahtani also said that he will take strict actions against this act.

Malicious, False, Libellous And Defamatory Articles Published About Dr. Rajan Mahtani

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London, United Kingdom September 10, 2018

Dr. Rajan Lekhraj Mahtani (popularly known as Dr. Mahtani) is a Zambian businessman and philanthropist and Chairman of the Mahtani Group of Companies. He has business interests across Africa, Europe and Asia. The Mahtani group includes a large number of Companies and has been built into one of the largest conglomorate in Zambia, employing over 3500 personell and funding more than twenty development projects in Zambia, apart from countless charitable and philanthropic initiatives.

However, his success has naturally been accompanied by a vicious smear campaign, aimed at maligning Dr. Mahtani’s reputation, by vested interests in Zambia, and supported by persons in America and Europe. It is noteworthy, that Dr. Mahtani filed defamation cases in the State of Arizona and State of Minnesota, USA against such publishers of defamatory articles, including Zambiareports.com. The case was resolved between both parties and Zambiareports removed all such articles as they were malicious, defamatory, libellous, false and without any substance.

It has been brought to our notice that certain articles emanating from the removed Zambiareports articles have been copied, reproduced and/or published by various other websites, individuals and online publications.

At Dr. Mahtani’s behest, his attorneys have reached out to those whose contact information was publicly available, while several others which were posted anonymously, remain in the public domain. To those publishing and posting false allegations, which have been proved to be without substance and deliberately  malicious in various Courts of Law in USA, UK, and Zambia, Dr. Mahtani’s USA attorneys Clare Locke LLP, and UK attorneys Gordon Dadds LLP officially advise through their respective letters (attached) Individuals and organization who may which to seek independent clarification may write to them directly. In the absence of which, those indulging in these activities are warned that they do so at their own risk and Dr. Mahtani reserves the right to take appropriate legal action against them.

Dr. Mahtani has worked relentlessly for the upliftment and development of Zambia as a businessman and a philanthropist and has earned an impeccable reputation. He has led numerous businesses in Zambia, Zimbabwe, Malawi, Sierra Leone, Europe and Asia with a primary focus on banking, insurance, property development, financial, manufacturing and investment sectors. His highly successful business and development projects have benefitted the respective Countrys’ economy and improved the standard of living in Zambia and other territories. He holds the importance of integrity, good governance, honesty and lawfulness very dear to him. He takes these false allegations as an attempt to defame and cause harm to not just his businesses, but him personally

Attachments:

1. Letter issued by USA attorneys Clare Locke LLP – https://www.dropbox.com/s/tdz8hamgdva55on/ClareLocke.png?dl=0

2. UK attorneys Gordon Dadds LLP – https://www.dropbox.com/s/sw91sr49tkmehee/Gordan%20Dadds.png?dl=0

Top Ministers And Lawyers Accused Of Money Laundering In Zambia

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FIC, Financial Intelligence Agency, recently announced devastating news of money laundering. The news shook the nation as top Zambian lawyers were involved in laundering money via personal and professional bank accounts. The news has been condemned by the public and the industrialists alike. Top businessmen like Dr. Rajan Mahtani have shared his grave concerns over the failure of the government to detect this mass money laundering act for so long and its effect on the economic and social status of the Zambian.

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Top Zambian Legal Counsellors Charged For Money Laundering, Fic Reports

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Illegal activities such as money laundering are a curse to any developing nation. At one side, there is a government trying to improve the economic and social conditions of the nation. On the other side, there are criminal groups and individuals engaging in illicit activities just so they can be rich at the expense of others. Zambia is facing a similar situation now. The nation has always been a home to corrupt politicians, corporate and powerful individuals who used their power and position to put negative influence and even loot the country of its economic prosperity. While incidents of illegal activities are common across the nation, the recent discovery made by the Financial Intelligence Centre was definitely shocking news to all.

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Corruption Charges Against Top Lawyers For Involvement In Money Laundering

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If one were to believe in the reports and accusations made by FIC, it will be clear that the corruption and illegal practices in Zambia are far from over. The nation made some progress in the past few years, thanks to some economic development and establishment of organizations and factories providing livelihood to its people, apart from engaging in agriculture. At the same time, incidents and news such as this reduce the favourability of the nation to grow and attract foreign investments.

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