Dr. Mahtani and Finance Bank News | Mahtani Group of Companies

Dr. Rajan Mahtani Now Makes Another Appeal As Lusaka High Court Announces Verdict

The current economy is volatile and the effects can be seen developing as well as developing nations. Businesses across the globe are suffering and companies are doing everything to keep their businesses afloat. For developing nations, the situation might be further aggravated with limited support from law and regulations and lack of government scrutiny. This often results in companies either turning into unethical practices for survival and growth or becoming unviable due to economic conditions or competition.

This case pertains to Dr. Mahtani and his factory, Portland Cement Zambia for which a case was registered at the Lusaka High Court almost 10 years back. The factory was previously under the leadership of Dr. Mahtani and flourished during that time. However, the ownership of the factory is in question right now with the case pending at the court. The judge handling the court made a positive move a few months back when it was announced that the case hearing was closed. During this time, Dr. Mahtani and his lawyers submitted numerous documents and testimonials that were sufficient enough to prove his legal and real claim over the factory.

Even after this strong evidence, the final judgment was announced against Dr. Mahtani’s claims. The judge gave the verdict against Dr. Mahtani which was a major shocking phenomenon for Dr. Mahtani, his lawyers as well as all those following the case closely. It was a clear case of misdirected judgment and the judge clearly ignored almost all of the evidence submitted by Dr. Rajan Mahtani and his lawyers. As of now, Dr. Mahtani has made an appeal to the higher court of Zambia against the judgment made at the Lusaka High Court. In this appeal, Dr. Mahtani has claimed the skewed judgment and has appealed to the higher court to take a look into the matter.

After Judgement Of Portland Cement Zambia By Lusaka HC Judge, Dr. Mahtani Requests Intervention

The nation is still reeling from the shock it received after the final verdict was announced on the Portland Cement Zambia case. The case was registered by Dr. Rajan Mahtani, a noted businessman, industrialist and philanthropist, for the legal takeover of the factory. Even though the factory legally belongs to him, he has to fight for its ownership. The case is among the longest-running cases in Zambia.

During this time, the lawyers and teams from Dr. Rajan Mahtani shared numerous evidence and documents that sufficiently prove his legal ownership over the factory. He shared a signed shareholder’s agreement which clearly indicated the consensus of the rest of the shareholders. Furthermore, his lawyers have also submitted numerous financial exhibits which clearly showcase his financial investments in the factory’s development and growth, which cumulates to more than USD 12 million. Last but not the least; Dr. Rajan Mahtani had invited an independent auditor when he was still leading the factory, to conduct an audit of the financial and non-financial aspects of the factory. The independent auditor conducted the audit and produced an independent report. In this report, it was clearly stated that the factory was established as a joint venture and Dr. Rajan Mahtani was the sole joint venture partner of the factory. Rest of the members were simple shareholders with minority shareholding. All these evidence are sufficient enough to prove that Dr. Rajan Mahtani is the real owner of the factory.

However, Dr. Rajan Mahtani is not the one who can be disappointed. Instead, Dr. Rajan Mahtani immediately filed an appeal to the higher court of Zambia against this skewed judgment made by the Lusaka High Court judge. In his appeal, Dr. Mahtani has shared all related documents and evidence which were ignored by the high court judge. He believes that he will get justice at this higher court of appeal and is awaiting the reply.

Dr. Rajan Lekhraj Mahtani’s efforts result in a successful economic summit

In the past few years, several developments have been seen across the Zambian nation. These have been across several fields and areas, such as economic, social and technological. The growing industries and companies are providing the required platform for the country to grow. One of the strategies which the development countries apply frequently is establishing platforms for industries and companies to come together, share ideas and innovation so that new initiatives can be taken for the development of industries as well as the country. These are economic and industrial summits and events and even developing nations have started to conduct similar events.

Zambia has been conducting similar economic events for many years. The African Summit is a similar event which is being held every year. It is one of the biggest economic events in Zambia and is attended by some of the biggest companies and businessmen from across the nation. The 2017 African Summit was recently held in Zambia and was an extremely successful event. It was attended by numerous big corporate personalities, including Dr. Rajan Mahtani. Dr. Mahtani is a noted industrialist, businessman and philanthropist with more than three decades of work experience in Zambia. Dr. Mahtani is also an avid charity maker. However, he keeps his charity works and other significant philanthropic investments out of publicity.

Dr. Rajan Mahtani was instrumental in the success of the summit. After the event was successfully completed, the Chief Secretary of the event shared a press release. In this press release, the Chief Secretary thanked Dr. Rajan Mahtani for his significant financial contribution that resulted in the success of the event. He was also praised for his enthusiastic and supportive nature. Dr. Rajan Mahtani participated in numerous events, discussions and forums during the summit and also helped young entrepreneurs and attendees by sharing his business experience and acumen.

African Summit

Dr. Rajan Mahtani Ensures Success of African Forum Summit with Financial Contribution

Summits and business conferences are great platforms for industries to come together and brainstorm ideas and innovative solutions not only for their own industries or sectors but also for the development of the entire nation. One such Summit is African Form Summit which is held every year in Zambia. It is one of the biggest economic and business summits is Zambia and is attended by numerous businessmen and industrialists across the nation. African Form Summit 2017 was a successful event which saw participation from numerous industrialists, corporate houses as well as businessmen. After the successful completion of the event, the chief secretary of the event shared a press release. In this press release, he thanked Dr. Rajan Mahtani for his charitable contributions that were significant for the success of the event. It was clear that majority of the individuals, groups and companies who participated during the event were not aware of this charitable contribution by Dr. Rajan Mahtani. Dr. Mahtani was also a participant in the event. He was also praised for his enthusiastic and helpful nature. He not only participated in events such as roundtable conferences, workshops and debates, but also helped young entrepreneurs and business managers by answering their business queries and questions.

Dr. Rajan Mahtani has successfully built a business empire in Zambia and is known for his transparent and ethical nature. It is no doubt that he is always attacked by conspirators as he refuses to give in to their unethical and illegal practices. Irrespective of his image or reputation, he has continued to work for the betterment of the country and its citizens. He is also fighting for his rights and has firm belief in the law and government of the Zambian nation.

Portland Cement Zambia Case Still Open, Dr. Mahtani Moves Higher Court

Dr. Rajan Lekhraj Mahtani is a noted businessman and philanthropist with more than three decades of successful business experience across the Zambian nation. He is also known for his charitable activities, though he likes to keep his charity and other environmental works away from the public limelight. At the same time, he is also a constant target of conspiracies and wrongful defamation campaigns. These are majorly by scrupulous and corrupt business houses or individuals who are not able to gain any profit from Dr. Mahtani’s businesses. It is quite common to see even honest people break down and take the path of unethical practices or acts to achieve their objectives. However, Dr. Mahtani has kept his nerves and is still taking the path of law to achieve his goal. The case of Portland Cement Zambia is a test of patience and humility for Dr. Mahtani.

Portland Cement Zambia is a cement manufacturing factory for which Dr. Rajan Mahtani has been fighting case at the Lusaka High Court for more than ten years now. During these ten years, numerous ups and downs were observed, including unannounced transfer of judges handling the case as well as biased verdicts. The judge who is currently handling the case made announcement few months earlier. In this announcement, he confirmed that the case hearing was closed and both parties were asked to share their written and oral evidences and other testimonials before the court. After evaluating these evidences, final verdict was to be announced. However, the final verdict was given few weeks earlier and it was not what majority of the people awaiting the judgment were expecting.

The judge gave the final verdict against Dr. Rajan Mahtani, even though majority of the evidences were in favour of his claims. As a result, Dr. Rajan Mahtani has now made an appeal to the ‘higher court of Zambia’ against the verdict made by the Lusaka High Court Judge. Let us hope that this higher court will not fail Dr. Mahtani and give him the right justice he deserves.

Dr. Rajan Mahtani Praised for his Significant Contribution in African Forum 2017

Dr. Rajan Lekhraj Mahtani is a noted industrialist in Zambia with numerous successful businesses under his name. Some of the top companies in Zambia including Mahtani Group of Companies and Finsbury Investments have been started and run under his leadership. He is one of the most successful as well as celebrated businessmen across Zambia with numerous business establishments outside Zambia, particularly across developed nations like the United Kingdom.

Dr. Rajan Mahtani is also noted for his charitable practices. He is constantly seen involving in charity works for NGOs and other organisations. However, he rarely publicizes his charity works or philanthropic activities. This is the reason most of the participants and media was unaware of his huge financial contributions to the African Summit 2017. It is an economic summit which is being held every year in Zambia. The Summit provides a platform for known personalities and experts from different fields to join together and discuss about the burning issues associated with the nation. The African Summit is one of the biggest summits held in Zambia and is also a significant platform for networking and business. The Chief Press Secretary of the Summit released a Press Release shortly after the successful completion of the summit. In his letter, the Chief Secretary praised Dr. Rajan Mahtani for his significant financial contributions that resulted in the success of the summit. Unlike other businessmen and corporations, Dr. Rajan Mahtani did not feel the need to publicize his charitable act and as such, it was a surprise for most. Apart from that, the Press Secretary also praised Dr. Rajan Mahtani for his grounded nature and significant participation in the event; including helping young entrepreneurs with his business knowledge as well as participating enthusiastically in numerous debates, seminars and other activities.

Dr. Rajan Mahtani considered Zambia as his motherland and despite having numerous enemies and conspirators; he continues to work for the welfare and development of the nation.

FIC Investigation Leads to Disclosure of Mass Money Laundering in Zambia

The Financial Intelligence Centre recently made a sensational disclosure related to illegal money laundering activities across Zambia. The news was shocking due to the involvement of noted legal counsellors, law firms, government contractors as well as ministers working for the Zambian government. The list shared by FIC contained the names of top individuals involved in this money laundering fiasco. One of these names was of Central Chambers, a law firm owned by Sakwiba Sikota. He is also the legal counsellor for the Ventriglias. The Ventriglias are known for their unethical practices, most infamous being the illegal takeover of the Zambezi Portland Cement from Dr. Rajan Mahtani, its real owner.

In its report, the FIC revealed that during its investigation of nine months, more than 35,000 illegal cash transactions were recorded. These cash transactions were linked with the bank accounts of the lawyers who were under investigation of money laundering. Together, this money laundering scheme has amounted to almost USD 1 billion worth of money. Apart from that, the investigation also exposed some of the politically exposed personnel who were using surrogates for conducting these illegal businesses. It was found that majority of these surrogates were lawyers, law firms as well as private contractors. Further investigation revealed that more than 50 percent of these contractors were not even tax registered, and were getting shady deals with the support from various politically motivated officials working within the Zambian government. This can also be attributed as one of the prime reasons behind the inability of the government to detect money laundering activities of this scale. Many of the bank accounts were difficult to track, as the sources of these cash transactions were foreign bank accounts in Dubai and China, essentially a safe haven for illegal money. It was also found that majority of the lawyers or contractors received kickbacks for engaging in shady and unethical deals such as supplying sub-standard vehicles or broken cars.

The FIC is still investigating on this matter and will reveal more information soon.

Top Zambian Lawyers Accused of Money Laundering and Fraud, Claims FIC

The Financial Intelligence Centre recently broke the astonishing news of money laundering in Zambia and a loss of almost USD 1.5 billion worth of money in this scheme. Top lawyers and legal counsellors are accused of involving in this money laundering scheme.

The FIC started its investigation after more than 33,000 illegal cash transactions were linked with several bank accounts. These accounts belonged to top lawyers and legal counsellors in Zambia, working with various public, private and even government entities. Furthermore, it was also found that these accounts were highly active during events such as trial of Rupaih Banda for his involvement in illegal Nigerian oil dealings, presidential petition and illegal elections. In this manner, the FIC was able to track the monetary transactions and identified that majority of these funds were used for funding these illegal events.

Top lawyers from Zambia have been named in this money laundering list. At the top of the list is Masozi M. Banda, a lawyer from Avic International accused of laundering money worth more than USD 1 billion. Next in line is Sakwiba Sikota, the owner of Central Chambers and long-term legal counsellor for infamous Italian family, the Ventriglias. Since establishing their businesses in Zambia, the Ventriglias have involved in numerous unethical practices and Sikota has been saving them from the law. One of the most infamous acts from the Ventriglias has been the illegal takeover of the Portland Cement Zambia from the Ventriglias by using goons. In a similar manner, majority of the lawyers, government contractors and others named in the list have been conducting illegal businesses and transactions for a long time and getting away with law and order by taking advantages of the various limitations of the government’s functioning.

It is clear from the above evidences that money laundering scheme is real and pretty much happening across the nation. Therefore, it is time for the Zambian government to take action and give appropriate punishment to the lawbreakers.

African Forum 2017 Successful, Press Secretary Praises Dr. Mahtani for his Contribution

The African Forum 2017 is an economic forum held in Zambia annually. It is a big platform wherein personalities and noted figures from across the nation and also outside join together and discuss on the burning questions related to the economic, social and political questions related to the nation. This year’s African Forum Summit was also a successful event with participation of numerous personalities from various fields. The forum saw these experts join together in discussions, debates and meetings to talk about the various potential solutions for the major issues across the nation. The forum also held other events such as seminars, focus group studies, exhibits and even workshops which saw participation of numerous young entrepreneurs.

Some of the top businessmen from Zambia participated in the event. One of them was Dr. Rajan Mahtani. He is a noted businessman and philanthropist in Zambia. Dr. Mahtani is noted for his successful businesses and his firm stand on transparency and honesty. Some of his successful ventures include Mahtani Group of Companies, Finsbury Investment and Finance Bank Zambia. He has also successfully established numerous companies outside Zambia, most notably in United Kingdom. This has also helped bringing foreign investments in Zambia. His charitable and philanthropic activities are mostly quiet. Therefore, it was only after the completion of the event, people came to know about his huge contribution to make the African Summit a successful event. After the event, the PFI (Prison Fellowship International)’s Press Secretary released a press release. In this press release, Dr. Rajan Lekhraj Mahtani was praised and thanked for his significant contributions that helped in the success of the event.

While other businesses or individuals would have taken the credit publicly to improve their image, Dr. Mahtani does not believe in such PR and likes to contribute without public praise. During the event, he was also significantly involved and also helped new businessmen and entrepreneurs by giving discussing with them and giving them important wisdom in business.

Money Laundering Charges Faces by Lawyers after Revelation by FIC

As per the recent revelation made by Financial Intelligence Centre, a mass money laundering scheme has been observed in Zambia. Money laundering is an illegal act and irrespective of the state or country, the accused should face punishment at the hands of the law. However, the situation has been quite different in Zambia till now. As per the reports released by FIC, the money laundering activities have been going on for a long time, and neither the government nor the lawmakers had any clue regarding this crime. This can be attributed to the fact that top government officials, public contractors and those closely associated with numerous Zambian ministers were involved in this money laundering scheme.

As per the FIC, more than USD 1.5 billion worth of money has been found to be involved in this money laundering act. The same report from the FIC revealed that some of the top names of accused involved in this scheme were involved in money laundering worth more than USD 1 million each. Some of the top names in the list were of Masozi M Banda and Sakwiba Sikota. Banda is the lawyer working for Avic International and was accused of laundering money worth more than USD 1 million dollars. When confronted, he defended himself by saying that the money in his bank account is for government construction purposes, such as road construction. However, the authorities have not yet found any evidence and have started the investigation. Another name in the list was of Sakwiba Sikota, the owner of Central Chambers and long-term legal counsellor of the Ventriglias. He is also responsible for laundering money worth millions. The Ventriglias are known for their unethical practices and illegal activities. The most infamous of them has been the illegal takeover of the Zambezi Portland Cement factory from its real owner, Dr. Raja Mahtani.

The money laundering activity has clearly gotten out in the hand and it is time for the government to act in quickly.