Tag Archives: Dr. Rajan Mahtani

Dr. Rajan Mahtani Announced As A Major Winner In The Forbes ‘Best Of Africa’ Awards

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Dr. Rajan Lekhraj Mahtani, a noted businessman and philanthropist from Zambia, recently received a prestigious award from Forbes. This award ceremony was held during the annual Forbes-FIN philanthropic and roundtable conference. Foreign Investment Network (FIN) is a UK-based organization that has been a critical driver for FDIs (foreign direct investments) across Africa as well as several developing economies. The objective of these strategies is changing the continent’s narrative. Over the years, FIN in partnership with several international organizations including Forbes have organised more than 40 international business and investment events for supporting the African market.

This roundtable conference is one of the most awaited and crucial business events in Africa as it is organized by Forbes with participation of local and international personalities. The roundtable conference invited international business communities, political leaders, opinion leaders, spiritual leaders, entrepreneurs, media partners, international investors as well as leaders from several sectors and areas who have contributed towards development of African nation in a significant manner. Dr. Rajan Mahtani was one of the honorary speakers during the event.

This year’s event was held online as a result of the ongoing coronavirus pandemic. The online event addressed philanthropy and humanitarian issues as well as the role of leadership in these areas. One of the strategic goals of this business event is charting action course for creating awareness regarding support for several public, private and national projects aimed towards benefiting the African economy and its society. Towards this goal, the Forbes ‘Best of Africa’ awards are organized with the objective of recognising the significant contributions of leaders and philanthropists. Dr. Rajan Mahtani was not only a honorary speaker during the event, he was also one of the winner of the Forbes ‘Best of Africa’ awards. To recognise and honor Dr. Mahtani’s contributions towards business, philanthropy as well as banking industry of Zambia, he was bestowed with the prestigious ‘Entrepreneur of the year’ award 2021. Dr. Rajan Lekhraj Mahtani was the only businessman for entire Zambia to be selected for this award.

Finance Bank Zambia Owner Dr. Mahtani Sues Bob Diamond

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Atlas Mara is a controversial banking & finance group which was established in the year 2013 by Bob Diamond. This banking group came into news when noted businessman and philanthropist Dr. Rajan Mahtani registered a case against the bank and its founder Bob Diamond. The banking group is listed at LSE (London Stock Exchange) and the objective behind floating this company was to transform it into a banking giant across Africa. With this objective, Bob Diamond furthered his plan of entering the Zambian state as well as achieving his business here.

According to the claim established by Dr. Rajan Lekhraj Mahtani, Bob Diamond owned Atlas Mara entered into an agreement with Dr. Rajan Mahtani owned Finance Bank Zambia in the year 2015. It was a share sales & purchase agreement under which Atlas Mara took over majority shares of the Finance Bank Zambia for a specific sum. However, as per the claims established by Dr. Rajan Mahtani, Bob Diamond’s company has failed to make the required payment despite passing the due date. As such, Atlas Mara has been accused of breaching the terms of contract established with Finance Bank Zambia and is therefore liable for multi-million pound damage claim.

To further pursue his claim, Dr. Rajan Lekhraj Mahtani has hired noted international law firm Omnia Strategy which is known for its owner Cherie Blair. Dr. Rajan Mahtani aims to present his case at the London High Court via Omnia Strategy soon. According to the representatives from Atlas Mara, the claims established by Dr. Rajan Mahtani are without merit and fundamentally weak. However, latest reports have indicated that along with Dr. Rajan Mahtani, there are several other investors who are pursing similar damage claims against Bob Diamond’s Atlas Mara and these claims have reached to the tune of 100 million pounds.

Despite the bold plan by Bob Diamond, the Atlas Mara shares collapsed since the banking group’s launch and have continued in the downward trend. On the other hand, Bob Diamond is planning yet another venture across the African Subcontinent.

Beautiful Eulogy Shared By Dr. Mahtani For Late Kenneth Kaunda

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Before gaining global recognition as a nation, Zambia was a cluster of several small tribes, often fighting among themselves. One man is credited for uniting more than 73 tribes across the Zambian nation, resulting in a recognised nation within the world map as well as within Africa. This person is none other than the first president of Zambia, Kenneth Kaunda. Sadly, Kenneth Kaunda is no longer with us and his demise has certainly saddened the entire nation. The entire Mahtani family is devastated with this news and have shared their deepest condolences and regards to the Kaunda family. Dr. Mahtani and Kenneth Kaunda had close associations, dating back to the latter’s father, late Lekhraj Mahtani. A Ndola-based councillor, late Lekhraj Mahtani was instrumental in providing support as well as collaborating with Kenneth Kaunda in his quest for Zambian freedom and independence. It is with the support and earnest trust from dedicated people like late Lekhraj Mahtani that the Independence hero of Zambia was able to fulfil the dreams of an independent Zambia. This legacy of late Lekhraj Mahtani as well as Dr. Kaunda has been taken forward by Dr. Mahtani in his quest for development and continuous improvement of the Zambian nation. Dr. Rajan Mahtani’s established companies are a major source of employment and livelihood across several of the Zambian provinces. His companies like Finsbury Investments is credited for several public infrastructure projects such as schools, hospitals and housing complexes.

Despite baseless allegations continuously trying to strain Dr. Mahtani’s reputation, his work has never stopped and Dr. Mahtani continuous to refute such claims with utmost integrity, honesty as well as ethical and legal guidelines. As such, it can be said that Dr. Mahtani is an ideal candidate showcasing the legacy and philosophies set by late Kenneth Kaunda. His demise and remembrance is a period when Zambians must open their eyes to the state of Zambian politics, economy and social conditions and work together towards the betterment of the nation.

Supreme Court’s Announcement Comes After Bizarre Appeal From The Ventriglia Family

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The actual court proceedings for Portland Cement Zambia factory was over on 31st January 2019 when the higher Court of Appeal announced its final verdict on the case. Dr. Rajan Lekhraj Mahtani is one of the most respected and noted businessman in Zambia. He is known for his companies such as Mahtani Group of Companies, Finsbury Investment and Finance Bank Zambia. Dr. Rajan Mahtani also held the ownership for Portland Cement Zambia via his company Finsbury Investments before it was unethically taken over by the Ventriglia family. A case was registered at the Lusaka High Court with the hope of getting quick judgement. However, the Lusaka High Court dragged the case proceedings to more than a decade. Despite this, the final decision coming from the Lusaka High Court was controversial and justice Nkonde announced the Ventriglias as the only shareholders of the Portland Cement Zambia.

Dr. Rajan Mahtani, after consulting with his legal team, immediately decided to appeal against this misdirected and controversial decision. The appeal was approached at the higher Court of Appeal and on 31st January 2019, justice Mwinde on behalf of the higher Court of Appeal gave the final verdict on the case. As per the verdict, Dr. Rajan Mahtani owned Finsbury Investment holds 58 percent Portland Cement shares and is the majority shareholder as well as legal owner of the factory. Based on these evidences, the decision from the Lusaka High Court was effectively reversed.

The Ventriglia family, unhappy with the loss of the cement manufacturing factory from their control, decided to try their luck by approaching the Supreme Court Zambia. In their claim, the decision from the higher Court of Appeal was challenged. The Supreme Court established a bench of three SC judges for evaluating the case. After evaluation, the Supreme Court judge came to the conclusion that the claim from the Ventriglia do not hold any conclusive support and therefore, was effectively rejected.

Supreme Court Zambia Makes Final Announcement On The Claim By Ventriglia Family

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After more than a decade of case proceedings, the Portland Cement Zambia case was finally over when justice Mwinde on behalf of the higher Court of Appeal made the ultimate announcement on the case. On 31st January 2019, justice Mwinde effectively reversed the previous decision by the Lusaka High Court on the same case. It should be noted here that after more than a decade of case proceedings at the Lusaka High Court, the final decision coming from the Lusaka High Court was extremely controversial as the Ventriglia family were announced as only shareholders of the Portland Cement Zambia. Dr. Rajan Mahtani was able to successfully challenge this decision at the higher Court of Appeal.

Despite a definitive decision from the higher Court of Appeal, the Ventriglia family decided to play by their own rules by challenging the decision and approaching the Supreme Court Zambia. The Ventriglia family approached the Supreme Court Zambia with a claim that the decision from the higher Court of Appeal was wrong. They also claimed that the actual amount against the majority shareholding was K580 million as opposed to K580,000 finalised by the higher Court of Appeal judge. As such, the Supreme Court Zambia established a bench of three judges to evaluate this case. These included justice Mumba Malila, Justice Royda Kaoma and justice Michael Musonda. After evaluation of the appeal, the Supreme Court bench concluded that a critical legal requirement was unfulfilled. As per the legal regulation, any case against a previous court judgement must be made within 14 days of the case verdict itself. However, the Ventriglia family failed to comply with this critical requirement and registered their case only after 1.5 years of the higher Court of Appeal’s decision. As a result, the Supreme Court bench concluded that the appeal made by the Ventriglia family help no basis and as such, was effectively rejected by the Supreme Court Zambia.

Portland Cement Zambia Ownership After Court Of Appeal’s Decision Remains Unchanged

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As per the latest decision from the Supreme Court on the appeal from the Ventriglia, it is now a confirmed news that Dr. Rajan Lekhraj Mahtani is the majority shareholder and legal owner of the factory. This confirmation was invariable after the Ventriglia family suddenly decided to appeal against the verdict of Court of Appeal on the Portland Cement Zambia case. Dr. Rajan Mahtani is a noted businessman in Zambia who has been working tirelessly towards establishing an authentic and transparent business empire. Some of his top companies in Zambia are Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. In the year 2006-07, Finsbury Investments received majority shareholding and ownership of Portland Cement Zambia with the objective of developing the factory and completing the construction. However, all these growth plans were halted when the Ventriglia family decided to challenge the shareholding agreement according to which Finsbury Investments was owner of Portland Cement. This started a significant court battle at the Lusaka High Court lasting for more than a decade. Despite this long pendency, the final verdict which came on 31st January 2019 was controversial as justice Nkonde of Lusaka High Court announced Ventriglias as the only shareholders of the Portland Cement Zambia.

Dr. Rajan Lekhraj Mahtani was able to successfully challenge this decision at the higher Court of Appeal. On 31st January 2019, justice Mwinde on behalf of the higher Court of Appeal gave the final decision that the verdict from the Lusaka High Court was misdirected and must be reversed. Furthermore, justice Mwinde confirmed that Dr. Rajan Mahtani owned Finsbury Investments should remain the majority shareholder and legal owner of the factory. After more than a year of this verdict, the Ventriglia family challenged it by claiming it to be false. It was challenged at the Supreme Court Zambia. After detailed evaluation, the Supreme Court bench concluded that the claim from the Ventriglia family was invalid and therefore, was effectively rejected.

Bench Of Three SC Judges Evaluate The Appeal From The Ventriglia Family Regarding Higher Court Of Appeal’s Verdict

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If the court proceedings and verdicts are to be considered, the case of Portland Cement Zambia was over on 31st January 2019. On this date, justice Mwinde on behalf of the higher Court of Appeal reversed the previous decision from the Lusaka High Court on Portland Cement wherein the Lusaka High Court judge announced the Ventriglia family as the only shareholders of the Portland Cement Zambia factory. In his final verdict, judge Mwinde from Court of Appeal announced that Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the Portland Cement Zambia factory and is the majority shareholder as well as the legal owner of the factory. At the same time, he also confirmed that Ital Terrazzo Limited owned by the Ventriglia family holds only 42 percent shares of the Portland Cement factory and therefore, does not have any legal ownership over the factory. With these evidences and facts, justice Mwinde had reversed the Lusaka High Court’s controversial and misdirected decision and gave the final verdict in which Dr. Mahtani received back legal ownership of the Portland Cement Zambia.

After more than 18 months of this higher Court of Appeal’s decision, it was challenged by the Ventriglia family at the Supreme Court Zambia. In their challenge, the Ventriglia family claimed that the decision from the higher Court of Appeal on Portland Cement factory was unethical. However, a bench of three SC judges established to evaluate this claim from the Ventriglia family found otherwise. After initial evaluation, the Supreme Court judges found that the Ventriglia family failed to submit their appeal within the given timeframe for such appeals which is 14 days from the previous court judgement. Furthermore, the evaluation also concluded that the evidences shared by the Ventriglia family were controversial and the SC judges did not have any jurisdiction to change the court decision. After these evaluations, the SC judge bench finally concluded that the claim from the Ventriglia family is to be rejected.

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 Lekhraj Mahtani’s Contribution Towards Zambian Education System Praised

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For many years now, Dr. Rajan Lekhraj Mahtani has been working tirelessly towards the development and welfare of the Zambian nation. At one end are his businesses such as Mahtani Group of Companies, Finsbury Investments and Portland Cement Zambia that are continuously working towards providing better products, services and facilities for the less privileged sections of the society. At the same time, Dr. Rajan Mahtani continuously engaged in charitable contributions as well as philanthropic activities across different sectors and industries. Some of the areas where Dr. Rajan Mahtani has made significant contributions include education, environment and community services. Dr. Rajan Mahtani’s contribution towards the education system of Zambia is well-documented, especially for the establishment of the Steven Malama award.

The Steven Malama award was instituted by Dr. Rajan Mahtani in the year 2012 via Finance Bank Zambia where he resides as Chairman. The award was created for honouring the late Steven Malama, a visionary and distinguished legal professional with significant contributions for improving the legal framework of Zambia. The inaugural award was given in the year 2013 and since then, the award is presented every year. Each year, the top graduating candidates from the Zambia Institute of Advanced Legal Education receives this award after qualifying for the bar in their first attempt. Since the institution and recognition of this award, the quality and volume of students opting for legal education have increased.

For the year 2018-19, the award recipient was Emmanuel Bwalya Kaluba. He received the award for graduating from ZIALE with distinction and also successfully qualifying for Bar in his first attempt. He was congratulated by Dr. Rajan Mahtani himself while receiving the award. Emmanuel also wrote a letter which was published at the Daily Mail. In this latter, Emmanuel thanked Dr. Rajan Mahtani for his contributions and providing opportunities for legal students to work hard and study harder. The award carries a plaque and prize money of K15,000 given to deserving candidate each year.

Dr. Rajan Mahtani Thrashes Unethical Claims Shared On Social Media

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Dr. Mahtani’s business and corporate life has been full of ups and downs. One of the major reasons behind this is Dr. Mahtani’s strict adherence to transparent, honest and ethical business practices. In a nation full of corrupt politicians, legal authorities and businesses, Dr. Mahtani has made a unique name for himself with his transparent business practices. Despite having friendly network with big names in the Zambian political and economic sphere, there has not been even a single evidence of political or business lobbying or unethical favours from Dr. Mahtani or any of his businesses. This transparent and ethical nature of Dr. Mahtani can be easily seen from the fact that he had to fight across two different courts for more than a decade in the Portland Cement Zambia case for getting justice.

Business success provides individuals with the opportunity of networking with powerful people as well as individuals and houses with big names. In his successful business journey, Dr. Mahtani made a positive impression on numerous political figures of Zambia and even had a positive working relationship with the previous president of Zambia, Levy Mwanawasa. Even after the sad demise of the Zambia’s former president, Dr. Mahtani has always remained friendly and supportive of the family. However, a new story started to make round in social media during the mid-2019.

Miriam, daughter of late president of Zambia Levy Mwanawasa, recently made a claim that Dr. Rajan Mahtani wanted to inherit her farm situated at the Masaiti District at Copperbelt Province. While this claim seems outrageous, immediate attention was given to the fact that the claim was made on a social media platform, Facebook. On top of that, there were no evidence or attachments to support her claim. This quickly suggested that the claim made was invalid. However, outrageous claims like these certainly image the image of notable businessmen in a negative manner and as a result, Dr. Mahtani has made it clear that he will take appropriate actions against this unethical behaviour.