Dr Rajan Lekhraj Mahtani

Rajan Mahtani

Emmanuel Bwalya Kaluba Receives The 2018-19 Steven Malama Award By Dr. Mahtani

Dr. Rajan Mahtani is an established businessman in Zambia. In his more than three decades of business experience, Dr. Rajan Mahtani successfully instituted top companies in Zambia, including but not limited to Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. Apart from his business acumen, Dr. Mahtani is also noted for his several philanthropic activities and charitable contributions. Since his early business success, Dr. Mahtani has been involved in several philanthropic contributions to numerous sectors of Zambia such as environment, economy, senior citizens and correctional facilities. One of his most impactful philanthropic contributions in the field of education has been instituting the Steven Malama award.

The Steven Malama award was instituted by Dr. Rajan Lekhraj Mahtani in memory of the late Steven Malama, a noted visionary in the field of law and legal education and a close friend of Dr. Rajan Mahtani. Late Steven Malama was known for persuading the Zambian Government towards merger of two distinct bars, Barrister’s Bar and Solicitor’s Bar. After the successful merger, many legal professionals and law enthusiasts are now able to complete bar affiliation in a much easier manner. Dr. Rajan Mahtani rightly decided that the best way to honour these contributions is to establish the Steven Malama award that would encourage law graduates and law students to be more like the late visionary.

The award was established in the year 2012 and was given for the first time in 2013. Since then, the award is given every year to deserving students. The recipient of the award include top graduating student of the Zambia Institute of Advanced Legal Education and also qualifier of the bar in their first attempt. The award for the year 2018-019 was received by Emmanuel Bwalya Kaluba. The award included a plaque, certificate and award money worth K15,000 that has helped deserving students with significant financial contributions. This philanthropic contribution by Dr. Rajan Mahtani was also shared at the Daily Mail.

Dr. Rajan Lekhraj Mahtani Lauded For His Contribution Towards Education In Zambia

 

Dr Rajan Lekhraj Mahtani

Very few people are aware of the fact that Dr. Rajan Lekhraj Mahtani is the person behind establishment of the Steven Malama award. The award was established in the year 2012 by Dr. Rajan Mahtani and Finance Bank Zambia wherein he holds the Chairman’s position. Late Steven Malama was a close friend of Dr. Rajan Mahtani and as a result, Dr. Mahtani decided to honour the late legal professional and distinct visionary by establishing the award.

Steven Malama is known for his significant achievements during his lifetime as a distinct legal professional as well as bar visionary. His contributions have made him a role model for many within the Zambian legal fraternity. One of the most significant contributions from Late Steven Malama was to persuade the Zambian government to establish a legislation for merging two distinct bars, the Barrister’s bar and the Solicitor’s bar into one single Bar. This merger was significant as it provided legal professionals across the nation to receive affiliation without any hurdles.

The Steven Malama award is given every year to the top graduating student from the Zambian Institute of Advanced Legal Education. The top graduating student must also qualify for the bar in their first attempt. The inaugural Steven Malama award was given to Womba Silumbu Kankondo in the year 2013. Since then, the award is an annual event which sees participation from several personalities from the legal, educational and industry fraternity.

The award for the year 2018-19 was received by Emmanuel Bwalya Kaluba. Emmanuel also wrote an article which was later published at the ‘Readers Forum’ of the Daily Mail Newspaper. In this article, Emmanuel thanked Dr. Rajan Lekhraj Mahtani for his contribution and perseverance which resulted on the formation of the award. The award carries a plaque, certificate and award money worth K15,000 which is of significant financial support for the deserving law graduates from the Institute.

Dr. Rajan Mahtani

Dr. Rajan Mahtani’s Philanthropic Work Praiseworthy, News Article Reveals Details

Dr. Rajan Lekhraj Mahtani is one of the most respected and celebrated businessmen in Zambia. His contributions extend not only in successful business ventures and providing opportunities for FDIs in Zambia, but also across philanthropic and charitable activities. Dr. Rajan Mahtani is known for his several volunteering activities and philanthropic contributions for the oppressed and less privileged sections of the society. He is also known to promote education and work towards providing opportunities for deserving students and candidates for their dedication and passion. A fine example of this philanthropic activities was the Steven Malama award. This award was established by Finance Bank Zambia, whose Chairman is Dr. Rajan Lekhraj Mahtani. The award was created in the year 2013 in honour of Late Steven Malama, a noted lawyer in Zambia. This award is given on an annual basis to the best graduating candidate from the ZIALE (Zambia Institute of Advanced Legal Education), who has successfully passed the Bar in their first attempt. Thus, the award is an opportunity to raise awareness about the importance of education for the economic and social development of the nation.

The award for the year 2018-19 was received by Emmanuel Bwalya Kaluba, who was the best law graduate cracking the Bar. After receiving this prestigious award, Emmanuel Bwalya Kaluba gave a praiseworthy and thankful appreciation to Dr. Rajan Mahtani in the form of news article at the Daily Mail. In this news article, the deserving candidate thanked Dr. Rajan Mahtani and Finance Bank Zambia for the significant opportunity and improving the motivation of the future classes to study hard. The award is also a means to attract future generations and young students to pursue the legal career as lawyers and legal counsellors hold significant position within the society. Apart from a plaque and a certificate, the award also gives an amount of K15,000 to the graduating candidate.

Money Laundering

Finsbury Investment Claims Unethical Manipulation Of Shares, Reaches Lusaka High Court

Dr. Rajan Lekhraj Mahtani is a noted businessman in Zambia with numerous successful businesses such as Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. Dr. Rajan Mahtani has made a reputation of himself with his authentic and transparent business practices. Recently, Dr. Rajan Mahtani owned Finsbury Investments sued the ESATDB (Eastern & Southern African Trade and Development Bank). The compliant was registered at the Lusaka High Court and it was claimed that Finsbury Investments was wrongly removed as a major shareholder at the Hotellier Limited. This has resulted in significant financial and reputational damage and Finsbury Investments have demanded justice for this unethical conspiracy against the firm.

In the principle registration, Finsbury Investments filed that the ESATDB allowed Ody’S or OWL (Ody’s Works Limited) to alter share capital associated with Hotellier. Ody’s then issued new shares which were contrary to the shared pledged to the Finsbury Investments and officially written under the company’s name. Further statement from the defendant indicated that in the year 2012, the bank in a unilateral manner, issued an official letter which guaranteed that the shares from the company had been properly discharged. However, this letter was released without establishing any application process and without intimating the plaintiff. Therefore, it can be said that the letter was issued with the objective of aiding Ody’s opposition of the compliant raised by Finsbury Investments.

Finsbury Investments further stated that due to the wrongful dilution of the shareholding pattern, the company suffered huge financial and reputational loss. As a result of this unethical takeover of the shareholding of the Radisson Blue Hotel, Finsbury Investments suffered numerous loss not only in current scenario but risks to the future of the company. The dividends lost due to this unethical practice were close to USD 30 million, a loss of which halted significant projects for Finsbury Investments. As such, Finsbury Investments has launched an official complaint against this issue with the expectations of quick judgement.

Zambezi Portland Cement

False Accusations Against Dr. Mahtani Discarded, Actions To Be Taken

Dr. Rajan Lekhraj Mahtani has made a name for himself with his honest business practices and transparency in all his work activities and corporate decisions. Even with having to work in a nation filled of corruption, unethical practices, Dr. Rajan Mahtani has been able to keep an honest and clean image. With this clean image, Dr. Mahtani has established numerous successful businesses such as Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. Apart from Zambia, Dr. Mahtani has many established businesses across several parts of the globe such as United Kingdom. As such, it can be said that Dr. Mahtani has played an instrumental role in improving the economic and financial condition of the nation by bringing foreign investments within the nation.

With his honest and ethical business practices, Dr. Mahtani was able to establish a network with politicians, business moguls and notable experts in the field of economics. Dr. Rajan Mahtani remained a good family friend of Zambia’s late president Levy Mwanawasa, till his sad demise. However, things took an unprecedented turn during mid-2019 when Miriam, daughter of the late Zambian president Levy Mwanawasa, accused Dr. Rajan Lekhraj Mahtani of illicit allegations. In a Facebook article, Miriam claimed that Dr. Rajan Mahtani wanted to inherit the farm they owned in the Masaiti District. It was certainly an outrageous claim and was unexpected from the daughter. Very soon, questions were raised on Miriam itself regarding the authenticity of the claim. If her claim was actually true, why didn’t she approached legal counsel rather than blatantly posting on social media without any evidence.

After this news, Dr. Rajan Mahtani immediately reverted that this claim was absolutely invalid and without any evidences whatsoever. Dr. Mahtani expressed his concern for this unethical and unprofessional behaviour against him and requested appropriate actions against the former President’s daughter for this blatant use of social media and sending false accusations.

Rightful Ownership Of Portland Cement Zambia Established, Dr. Rajan Mahtani Comes Out As Winner

Rather than relying on grapevine and falling prey to negative rumours, it is wide to believe only on the truth. When the case of Portland Cement Zambia was out, the media was divided between the two business tycoons claiming the factory. One of them were the infamous Ventriglia family, who some call as the Italian Mafia. The other side included Dr. Rajan Lekhraj Mahtani, a noted businessman, philanthropist and charity worker who has gained significant respect and recognition with his transparent business practices. Dr. Rajan Mahtani registered the case of Portland Cement at the Lusaka High Court claiming that his factory was unethically taken over from him. To prove his claim, several evidences, testimonials and other details were shared before the court. After more than a decade of numerous court proceedings, justice Nkonde on behalf of the Lusaka High Court announced the Ventriglias as the only shareholders of the Zambezi Portland Cement.

This decision from the Lusaka High Court was extremely controversial, prompting Dr. Mahtani to approach higher Court of Appeal. The judge at the higher Court of Appeal was justice Mwinde and expectations were high from the court considering the significant controversies associated with the case and the previous court handling the case. While tensions were high, justice Mwinde was found to be a calm, experienced and transparent justice from the highest judicial system of Zambia. The final verdict from the higher Court of Appeal came on 31st January 2019, and it was given in favour of Dr. Rajan Mahtani and his lawyers. According to this final decision, Dr. Mahtani gave a sum of one billion kwachas to the Zambezi Portland Cement factory for covering the entire share capital value of Portland Cement. Furthermore, the details present in the original shareholders agreement also confirmed that Dr. Mahtani has made all payment associated with transfer of 58 percent shares of the Zambezi Portland to Finsbury Investments. Based on these evidences, it is now established that Dr. Mahtani is actual owner of the Portland Cement factory.

zambezi portland cement

Dr. Rajan Mahtani’s Long Struggle For Portland Cement Over, Wins Case At Higher Court Of Appeal

Dr. Rajan Lekhraj Mahtani is one of the most successful business persons in Zambia. His companies like Finsbury Investments, Mahtani Group of Companies and Finance Bank Zambia have all reached top positions in their respective industries. Dr. Rajan Mahtani has always been ahead when in comes to establishing successful businesses as well as activity participating in the social and economic development of the nation. However, there is one area where Dr. Rajan Mahtani has struggled continuously. This area is working with the government of Zambia. Despite Zambia’s recent progress, the country is marred with corruption and unethical practices with bribery and extortion becoming a common practice even across top government and legal institutions. This makes it extremely difficult for honest and ethical businessmen like Dr. Rajan Mahtani to survive and thrive. Many of his colleagues and industry peers who started their business with honesty, integrity and ethics have resorted to unethical and illegal practices, either with the intention of staying ahead or due to the pressure of surviving in this unethical market. It can be said that Dr. Rajan Mahtani remains one of the few businessmen in Zambia who has kept a clean image and his business practices are as transparent as it could be.

Despite his clean image and reputation, Dr. Rajan Lekhraj Mahtani was not able to save his factory, Portland Cement Zambia, from an unethical decision. This unethical decision came from the Lusaka High Court where the case was registered. It took more than a decade for the court to announce its final judgement on the Portland Cement and that too, a controversial and misdirected judgement. Not getting down, Dr. Rajan Mahtani approached the higher Court of Appeal which the hope that justice will be provided at the higher Court of Zambia. And it was given on 31st January 2019 when justice Mwinde on behalf of the Court of Appeal announced Dr Mahtani as the majority shareholder and actual owner of the Portland Cement Zambia factory.

Zambezi Portland Cement

Dr. Mahtani’s Next Challenge After Winning Portland Cement Case Is To Revive The Factory

The final verdict on the long-pending Portland Cement case is out. This final and definitive verdict came from higher Court of Appeal on 31st January 2019 after nine months of gruelling case proceedings at the court. Unlike the previous court, justice Mwinde on behalf of the higher Court of Appeal made an extremely transparent decision system wherein all evidences, testimonials and other factual details were evaluated in a transparent manner. During this decision, the evidences, testimonials and other details which helped in arriving at the decision were shared to the media and the public.

It was found that Dr. Rajan Mahtani gave Portland Cement Zambia limited an amount of one billion Kwacha via his company Finsbury Investments, equivalent to USD 250,000. This amount was shared officially for covering the share capital value of the ZPC shares which Dr. Rajan Mahtani took over. The second major evidence was the original Shareholders’ Agreement which was established on 26th February 2007, around two years after the initial exchange between Dr. Rajan Mahtani and Portland Cement Zambia limited. As per the details found in the agreement, page number 663 clearly established the fact that Dr. Rajan Mahtani made the payment for taking over 58 percent shares of the Portland Cement Zambia factory and he is further not liable for any more payments associated with the case.

Several unethical and improper claims were also thrashed by the higher Court of Appeal judge. For instance, the claim of forgery were discarded as it was found that the process of electronically affixing signatures was a common practice at the Zambezi Portland Cement factory. It was also found that critical member of the Ventriglia family, Claudio Ventriglia, engaged in similar practice and as a result, all forgery related allegations were discarded. While the judgement did take significant time, it was truthful and transparent at the end. While giving the final judgement, justice Mwinde also said that the judge below him was wrong in not giving Dr. Mahtani the true justice which he deserved.

After Lusaka High Court’s Failure, Court Of Appeal Comes To Rescue Portland Cement Case

Portland Cement Zambia, as a manufacturing company, has faced several challenges and issues of its own. The official statistics clearly indicate that with change in leadership, the company’s operations changed dramatically too. During the time Dr. Rajan Mahtani was in-charge and in leadership position at the Portland Cement Zambia, the cement-manufacturing factory significantly improved in terms of productivity, operational efficiency and overall performance. It quickly became one of the top producers of Portland Cement across the town and started gaining significant national following. The manufacturing facility also became a known employer for providing above-industry wages and salaries for its people. However, all these achievements and efficiencies started to downgrade when the factory was unethically taken over from Dr. Rajan Mahtani. This unethical takeover not only disrupted the overall operations of the factory but also impacted its long-term survival and growth changes. At one side, Dr. Rajan Mahtani continuously fought for the legal takeover of the factory across different courts. On the other hand, the factory’s performance decline continuously due to lack of appropriate leadership, negligence of those who captured the factory unethically as well as lack of any urgency towards revival of the factory.

Dr. Rajan Lekhraj Mahtani fought for the case for more than a decade and finally received justice in the year 2019 from higher Court of Appeal. It was justice Mwinde who announced the final decision on the case on 31st January 2019. Unlike the misdirected decision of the previous court, the Court of Appeal gave its final verdict only after evaluating all evidences and testimonials submitted by the parties associated with the case. Some of the major evidences which helped in arriving at the final verdict at the higher Court of Appeal were the proof of transfer of one billion kwachas from Finsbury Investments to the Portland Cement Zambia which covered the entire value of the share capital; and the original shareholder’s agreement established in the year 2007. Based on these decisions, final verdict announced that Dr. Mahtani is only majority shareholder and legal owner of the factory.

Struggle For Dr. Mahtani For Portland Cement Over, Next Struggle Is Reviving The Cement Factory

For prominent businessman and philanthropist Dr. Rajan Lekhraj Mahtani, one part of the struggle has ended. This struggle started more than a decade ago when Dr. Rajan Mahtani had registered a case at the Lusaka High Court claiming this his factory was unethically taken over from him. Then started one of the biggest court-room battle between Dr. Rajan Mahtani and the court itself. The case of Portland Cement Zambia can be easily considered as a case between Dr. Rajan Mahtani and the justice system of Zambia. Despite having all important evidences, testimonials and other details associated with the case, Dr. Rajan Mahtani was not given justice as the final judgement went against his claims. On top of that, this was after more than a decade of fighting for justice at the Lusaka High Court.

Rather than giving in to this unethical judgement and accepting it as his fate, Dr. Mahtani chose to continue his fight. He then approached the higher Court of Appeal with his evidences and testimonials. The judge at the higher Court of Appeal was justice Mwinde who gave the ultimate decision on the case on 31 January 2019. The evidences clearly confirmed that Dr. Mahtani paid one billion kwachas to Zambezi Portland Cement limited for covering the 58 percent shares at the factory and getting majority ownership legally. This payment was further confirmed by the original agreement between shareholders which was established in the year 2007. In the page number 662 of this shareholders’ agreement it is clearly established that Dr. Rajan Mahtani has made all payments associated with the majority shares takeover of the factory and based on this understanding, it is confirmed that Dr. Mahtani is the actual owner of the factory.

While justice Mwinde has duly confirmed that Dr. Mahtani is actual owner of the factory, the struggle for Dr. Rajan Mahtani is not over, as the factory needs to be revived to its original glory.