Tag Archives: Dr Rajan Lekhraj Mahtani

Heaps Of Praise For Dr. Rajan Mahtani For Contributing To Legal Education In Zambia

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Dr. Rajan Lekhraj Mahtani is one of the few businessmen in Zambia who is known for his transparent and ethical business practices despite of tough situations such as developing a business empire in an underdeveloped and politically overwhelming nation such as Zambia. Despite the several economic and social challenges as well as widespread corruption across the nation, Dr. Rajan Mahtani has been able to maintain a clean and transparent image across all his businesses. Apart from his businesses, Dr. Rajan Mahtani is also noted for his significant charitable and philanthropic contributions. Most of these contributions go undetected as there are no public promotions or advertisements about these philanthropic contributions like most of the other businesses.

One of the most critical philanthropic contributions by Dr. Rajan Mahtani in the field of education has been the institution of the Steven Malama award. The Steven Malama award was instituted in the year 2012 in collaboration with Finance Bank Zambia wherein Dr. Mahtani holds the position of the Chairman and ZIALE (Zambia Institute of Advanced Legal Education) Institute which was given the responsibility of disbursing the award. The award was given for the first time in 2013 and since then it is being given on an yearly basis during the annual gala event. Dr. Rajan Mahtani himself presents the award to the deserving students.

The award is given to the top graduating students from the Zambia Institute of Advanced Legal Education, and the top graduating student must also qualify for bar in their first attempt. The award carries a plaque, a certificate as well as cash prize worth K15,000 which has been of significant financial support for the winning candidates. Emmanuel Bwalya Kaluba from the institute was the winner of the Steven Malama award for the year 2018-19. Emmanuel also wrote an article thanking Dr. Rajan Mahtani for his significant contributions in recognising law education, later published at the Daily Mail.

Dr. Rajan Mahtani Manages To Expose Fake Claims Against Him With Press Statement With Facts

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Dr. Rajan Lekhraj Mahtani differentiates himself from most of the other businessmen in Zambia with his transparent and ethical business practices and true devotion for the welfare of the Zambian society and its people. This devotion is seen in areas of philanthropic and charitable contributions as well as a straightforward and transparent business empire. This can be seen as a major reason behind scrupulous and unethical entities trying to frame him with fake claims and negative rumors. Dr. Rajan Mahtani has been able to win over these rumors almost every time without creating any campaign or response strategies. However, in some situations response strategies become critical for exposing false claims.

During his more than three decades of business experience, Dr. Rajan Mahtani made a number of industry friendships from different spheres and sectors. One of them was Levy Mwanawasa with whom Dr. Rajan Mahtani had a long-lasting and transparent friendship. Dr. Rajan Mahtani’s friendship with Levy Mwanawasa goes way back even before the latter was made the President of Zambia and continued till his early demise. As a result, it was a shocking revelation when it was found that Miriam Mwanawasa made a ludicrous claim against Dr. Rajan Mahtani. In a Facebook post, Miriam Mwanawasa claimed that Dr. Rajan Mahtani intended to take over the land at the Masaiti district owned by the Mwanawasa family. However, this claim was entirely false and as a result, Dr. Rajan Mahtani decided to take action by releasing a press statement.

In this press statement, Dr. Rajan Mahtani clarified that he never made any claims, intentions or requests regarding taking over the said land. He further stated that his friendship with late Ex-President of Zambia Levy Mwanawasa was extremely transparent. At the same time, it was further pointed out that Miriam Mwanawasa did not have any proof or evidence to support her claims. As such, her claims were regarded as baseless and Dr. Rajan Mahtani assured actions against her.

Dr. Rajan Mahtani Owned Finsbury Investments Files Complaint Against Major Bank In Zambia

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For a straightforward, transparent and ethical businessman like Dr. Rajan Mahtani, challenges and roadblocks have been many. Working in a developing nation such as Zambia is not easy as the legal and regulatory system is marred with corruption and unethical practices. For many years, Dr. Rajan Mahtani fought for the legal takeover of the Portland Cement Zambia factory. This factory was unethically taken over from him and despite sharing numerous evidences and testimonials at the Lusaka High Court, justice was not received. Dr. Rajan Mahtani was finally given justice at the higher Court of Appeal wherein the judge confirmed that Dr. Mahtani is the majority shareholder and therefore, the legal owner of the Portland Cement Zambia factory.

Finsbury Investments is a company owned by Dr. Rajan Lekhraj Mahtani. The company recently sued a major Zambian bank, ESATD (Eastern and Southern African Trade and Development) bank. In their statement, Finsbury Investments stated that the bank engaged in a conspiracy resulting in financial as well as reputational damages for Finsbury. In their complaint, Finsbury Investments claimed that their shares of Radisson Blue were wrongfully interfered. Furthermore, Dr. Rajan Mahtani claimed that the bank, in an unlawful manner and without notifying Finsbury Investments, allowed Ody’s Works’ Limited to alter shareholding for Radisson Blue. All these activities were conducted unethically and without proper applications as well as without informing principle shareholders. The bank also released a letter which said that Finsbury Investments is aligned with the changes made by the bank with respect to the hotel’s shareholding. It was clear that this letter was dispersed without the knowledge of Finsbury Investments.

As a result of this shareholder dilution, Finsbury Investments has suffered significant financial and reputational losses. The losses in terms of shareholder dividends were more than USD 30 million and as a result of that, several ongoing and expected projects from Finsbury Investments were halted. Some of these projects were housing and real estate project, retail banking projects.

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.

Long-Pending Case Of Portland Cement Closed After A Decade, Dr. Rajan Mahtani Wins Case

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On 31st January 2019, the final results for the Portland Cement Zambia case were announced. The results came from the higher Court of Appeal which is one of the highest legal and judiciary systems in Zambia. The judge at the higher Court of Appeal, justice Mwinde, announced the final verdict after looking into the evidences and testimonials. The first major evidence was the transfer of one billion kwachas from Dr. Rajan Mahtani owned Finsbury Investments to Portland Cement Zambia limited. This payment was made for covering the entire share capital which Dr. Rajan Mahtani took over of the Portland Cement Zambia limited. Furthermore, the original shareholders’ agreement established in the year 2007 was another major evidence which confirmed Dr. Rajan Mahtani’s claims. On the page number 663 of the original shareholders’ agreement, it was clearly established that Dr. Mahtani took over 58 percent shares of the factory after making the said payment. The agreement between shareholders confirms that this shareholding pattern was accepted and signed by all important shareholders associated with the factory.

Furthermore, all forgery related allegations were discarded by the higher Court of Appeal judge. It was found that the process of electronic placement of signatures was common practice at the Portland Cement Zambia and even critical member of the Ventriglia family, Claudio Ventriglia, engaged in similar practice. As such, all forgery related allegations were discarded by the judge. At the same time, justice Mwinde also confirmed that Dr. Mahtani is not liable for any further payments associated with the case. Any further payments such as PTT (property Transfer Tax) are liability of the transferor which is in this case, Portland Cement Zambia limited itself.

Now that the ownership of Portland Cement Zambia goes back to Dr. Rajan Lekhraj Mahtani, he has a much difficult task at hand. This task is to revive the factory to its former glory, which it was before the unethical takeover.

Dr. Rajan Lekhraj Mahtani Rightly Approaches The Court Of Appeal For Justice In Portland Cement Case

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Dr. Rajan Lekhraj Mahtani’s long-standing patience and perseverance was finally rewarded at the higher Court of Appeal. This decision was given on 31st January 2019, around nine months after the case was registered by Dr. Mahtani at the Court of Appeal. Previous to Court of Appeal, it was the lower Lusaka Court where the case was initially registered. It can be said that the day was a dark day for Dr. Mahtani when he approached the Lusaka High Court with the hope of receiving quick and genuine justice. Rather than providing true justice based on the given evidences and testimonials, justice Nkonde from the Lusaka High Court announced Ventriglias as the only shareholders of the Portland Cement Zambia. Considering the availability of significant evidence from Dr. Rajan Mahtani’s end, it can be said that the decision from Lusaka High Court judge was controversial.

Even though the verdict from Lusaka High Court was misdirected and was not expected by Dr. Mahtani, no confidence and faith was lost and higher Court of Appeal was approached for re-appeal. The legal system of a nation provides provision for individuals and businessmen to approach the higher court such as Court of Appeal or Supreme Court in case they are not happy or satisfied with the judgement of the lower court. And in this case, the final decision from the higher Court of Appeal judge clearly established the fact that the decision from the Lusaka High Court judge was indeed misdirected and unethical.

Nevertheless, the judge at the higher Court of Appeal was justice Mwinde and he announced the final decision after looking into evidences, ignored by the previous judge in a controversial manner. Based on the fact that Dr. Mahtani paid one million kwachas to Portland Cement for taking over 58 percent shares of the factory and written details in original shareholders agreement, final verdict gave Dr. Mahtani majority shareholding and ownership of the Portland Cement Zambia.

Ownership Of The Cement Manufacturing Factory Confirmed, Its Dr. Rajan Mahtani After Confirmation

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Now that the final verdict has come from the higher Court of Appeal, it is now a known fact that Dr. Rajan Lekhraj Mahtani is the actual and legal owner of the Portland Cement Zambia factory. This decision came on 31st January 2019 after a long battle at the Lusaka High Court as well as the Court of Appeal. Often when cases are not finalised as a district level court or some discrepancies are still found in the decision, the issues are generally taken to the higher courts. Zambia is a developing nation and the higher Court of Appeal is among the highest courts within the nation. As such, it was natural for Dr. Rajan Lekhraj Mahtani to approach the Court after Lusaka High Court gave an extremely controversial judgement.

Justice Mwinde on behalf of the Court of Appeal announced the decision on the Zambezi Portland Cement case. Unlike the Lusaka High Court’s controversial and misdirected decision, the Court of Appeal gave its final decision only after looking into all evidences and testimonials. One of the major evidences was the proof of financial transaction of one billion kwachas or USD 250,000 from Dr. Mahtani owned Finsbury Investments to Zambezi Portland Cement. This amount covered the entire value of the share capital of the Zambezi Portland Cement Limited. While this financial transaction took place in the year 2005, the evidence of this transaction was further found in the original shareholders’ agreement established in the year 2007. In the page number 663 of this original shareholders’ agreement, it is clearly written that Dr. Rajan Mahtani does not owe any further costs associated with the factory. It was also found that all other costs associated with the transaction such as PTT was responsibility of the Vendor.

All these evidences have now clearly established the fact that Dr. Rajan Lekhraj Mahtani is the only legal owner of the factory.

Higher Court Of Appeal Gives Its Final Decision On Zpc On 31st January 2019

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The case of Portland Cement Zambia has taken a significant toll of Dr. Rajan Mahtani’s patience, perseverance and focus for a long time. The journey started when the factory was unethically taken over and a case was registered at the Lusaka High Court. Despite sharing evidences, the Lusaka High Court judge gave a decision which came to be extremely controversial. The Ventriglias, and not Dr. Rajan Mahtani was announced as owner of the factory. After this judgement which was extremely misdirected, Dr. Rajan Mahtani rightly re-registered the case at the higher Court of Appeal. The judge at the higher Court of Appeal was justice Mwinde and after looking into all evidences and testimonials submitted, final decision was given. Justice Mwinde announced Dr. Rajan Mahtani as actual owner of the Portland Cement Zambia factory. This announcement was made on 31st January 2019 after sharing all details associated with the case.

Justice Mwinde confirmed that the Appellant or Finsbury Investments in this case made a payment of USD 250,000 to the Zambezi Portland Limited factory. This payment was made with the objective of taking over majority shares of the ZPC limited. Furthermore, this amount equalled 1 billion kwacha and this share transfer was clearly established in the original Shareholders Agreement established on 26th February 2007 and was found in the page number 662 of the volume-Record of Appeal in the agreement. This evidence further solidified Dr. Mahtani legal ownership over the factory. Furthermore, justice Mwinde also declared that it was the responsibility of the transferor to pay the PTT (Property Transfer Tax) and thus, Dr. Rajan Mahtani was acquitted from any type of tax payment as he has already completed his responsibilities in terms of payments for the factory. All these details were shared on the same date as the final announcement and it was also confirmed that this decision from the higher Court of Appeal will remain final and binding.

Dr. Mahtani Announced Portland Cement Zambia Winner By Court Of Appeal

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After more than a decade of wait, Dr. Rajan Mahtani has been given majority shareholding and ownership of Portland Cement Zambia factory. This decision came from Court of Appeal, one of the highest civilian courts in Zambia and the second court to announce the judgement. This decision from Court of Appeal came on 31st January 2019, around nine months after the case was registered there. The judge at the Court of Appeal was justice Mwinde who gave the judgement after looking into all evidences and testimonials. According to this decision, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder of the factory. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and are the minority shareholders without any legal ownership over the factory. This decision from the Court of Appeal aligned with the original shareholders agreement established in the year 2007. Based on this decision, it is clear that Dr. Rajan Mahtani is the actual owner of the factory.

By giving this decision, the judge from the Court of Appeal effectively reversed the judgement from the Lusaka High Court which had earlier announced that Ventriglias were the only shareholders of the Portland Cement Zambia factory. The judge from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders as this decision was misdirected and without any evidences. In terms of the forgery allegations, all such allegations were discarded by the judge. The judge confirmed that the process of mechanically placing signatures was a common practice in Portland Cement Zambia and critical member of the Ventriglia family, Claudio Ventriglia, engaged in similar practice and as such, all forgery related allegations were discarded. With this Court of Appeal judgement, the Portland Cement Zambia factory goes finally to Dr. Rajan Mahtani.

Dr. Rajan Mahtani Moves To Higher Court After Portland Cement Case Goes Sideways

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Dr. Rajan Mahtani is a noted businessman, social worker and philanthropist and has been working in Zambia for more than thirty years. During his tenure Dr. Mahtani has developed numerous successful businesses. Some of his top ventures include Finance Bank Zambia, Mahtani Group of Companies and Finsbury Investment. Portland Cement Zambia is another of Dr. Mahtani creation which was established and lead by him for a long time. During this time, the Portland Cement was among the top cement manufacturing factories in Zambia with production above target. Also, the company wages and salaries were above industry, attracting employees and staff from across the nation.

Dr. Rajan Mahtani

However, the situation of the factory has degraded after the factory was illegally taken over. Since then, Dr. Rajan Mahtani has launched a case at the Lusaka High Court against this illegal takeover. Since then, numerous court proceedings have taken over and even numerous times judges have been changed or transferred. During this trial procedure, Dr. Mahtani and his lawyers submitted numerous evidences, testimonials and factual sheet for proving their claims. Some of these documents and evidences included signed shareholder’s agreement, financial statements showcasing investments worth more than USD 12 million made by Dr. Mahtani and his company Finsbury Investments. Another critical evidential piece which Dr. Mahtani shared before the court was audit report conducted by an independent auditor. As per this independent audit report, the factory was established as joint venture and Dr. Rajan Mahtani is the sole joint venture partner of the factory. All these evidences are sufficient enough to prove that Dr. Mahtani is the actual owner of the factory.

The final judgment announced was totally unexpected as the judge gave the final verdict against Dr. Mahtani’s claims. As such, Dr. Mahtani has now made an appeal to the higher court of Zambia against the appeal made at the Lusaka High Court.