Dr. Mahtani & Zambia have been cheated and dumped

From the events that have surfaced now, it has become evident that Dr. Mahtani & Zambia have been cheated by a group of people, who were once their close allies. After a copy of Court’s order was made available for public display, it was seen that the real share of Portland Cement Zambia remained at 42% and 52% for Ital Terrazzo Limited and Finsbury Investments, respectively.

Dr Rajan Mahtani

In addition to the above mentioned fact, there were also other information which surfaced. One of the most shocking story was that the Mahtani family and the Ventriglia family were once upon a time family friends. The Ventriglias operated under the name of Ital Terrazzo Limited and Rajan Mahtani looked after Mahtani Group of Companies. Finsbury Investments also had Dr. Mahtani as one of its core members. When ITL insisted Dr. Mahtani helping them raise funds for setting up a new cement plant, Finsbury Investment came to the rescue and helped ITL to raise US $ 24 million.

Slowly, the factory began to operate and started generating huge profits. Witnessing the success, the Ventriglia family started to think about more money and eventually tried to push out Finsbury Investments from the clause by stating that the factory is 100% owned by ITL.

The incident clearly indicates that Dr. Mahtani & Zambia were cheated by the Italian Mafias and now they are fighting in their own country to preserve their own interest. How sad is that? Apart from the foreign invasion, there is also a group of jealous Zambians who are constantly helping the Ventriglia family to run this defamation campaign. Zambia Reports is actively involved in this campaign along with occasion appearance of other news portals as well. The only motivating factor which has been helping Dr. Mahtani & Zambia is the judicial system as it has refused to acknowledge any claim without any proper evidences supporting the same.

Official document- http://goo.gl/F4pVeh

Dr. Mahtani and Finance Bank developed Zambezi Portland Cement

New references continue to flow out as the official papers make an entry into public display. In a recently released official document it has been mentioned that the development of Zambezi Portland Cement would have been impossible without assistance from Dr. Mahtani and Finance Bank. To be precise, Dr. Mahtani agreed to help family friends, the Ventriglias to get the cement plant rolling in Ndola. The estimated requirement at that time was close to USD 24 million and it would certainly require the reputation of Dr. Rajan Lekhraj Mahtani to raise such funds.

Dr. Mahtani

As we dig deeper into this subject, we figure out that Zambezi Portland Cement was intended to serve Zambia and make profits out of sale of cement. But, all of a sudden greed started to creep in and the Ventriglias started to desire for more. The exiting ratio of 42% share in ZPC seemed too small for them and their new target was to get 100% ownership of the cement plant.

A local resident of Ndola comments, “The conflict of Portland Cement Zambia has been similar to one of those episodes where a family friends become rivals due to greed of money. Earlier, the plant operated with rewarding results, but since the Ventriglias wanted to have more all the time, they have dismantled the factory and converted into a non-productive unit. It is obvious that Dr. Mahtani and Finance Bank were cheated.”

According to the official document, Finsbury Investment was the financier of Portland Cement Zambia and Ital Terrazzo Limited was the minority shareholder. The agreed ratio was 58% and 42%, respectively. But still, we see that the conspirators are consistently trying to defame Dr. Rajan Mahtani and other enterprises associated with him. For how long Zambia will continue to face this onslaught? For more information and the official document, click here

Mourning for Portland Cement Zambia

Portland Cement Zambia has dependably been viewed as one of the finest assets of Zambia. The unit has not just figured out how to defeat the issue of unemployment in Ndola, but has also figured out how to ensure that economy of Zambia keeps developing at a respectable pace. Nonetheless, these improvements were brief when Italian Mafias assumed control over the plant and began to destroy its working balance. With barely anything left in the production line starting now, it is time that the general population begin to ponder whether they can have another PCZ as it is as of now nearly breaking down.

Portland Cement Zambia

May it be the monetary assets or resources of the processing plant, Ventriglia family has left nothing for the country. The sum total of cash has been removed from the production line and has been shifted to external accounts. Also, resources have been shifted to sham organizations whose proprietors is Antonio Ventriglia himself. Given the circumstance, it has become obvious that plunder was a definitive target of Ventriglia family and after they came to Zambia, they were firm to get this going.

The way Zambian assets have been squandered is essentially stunning! Factory workers being removed, assets being plundered and current operations suspended. This is the way the processing plant has been gradually killed under some avaricious individuals. The entire episode would not have been proficient without the backing of a few helping hands, for example, Sakwiba Sikota and Zambia Reports. Their commitment guaranteed that resistance was invalidated through provocative written work against Dr. Rajan Mahtani and besides, the official employees was ‘bought’. There are clear confirmations to highlight that debasement assumed an imperative part towards the pulverization of Portland Cement Zambia and it is the backing of plotters who had made this conceivable. For whatever length of time that these group of schemers will wander around in Zambia, each production unit is under the risk of being taken by any person who has financial power.

The sad news about Portland Cement Zambia

Portland Cement Zambia has always been regarded as one of the finest resources of Zambia. The unit has not only managed to overcome the problem of unemployment in Ndola, but has also managed to make sure that economy of Zambia continued to grow at a decent pace. However, these developments were short lived when Italian Mafias took over the factory and started to ruin its operating equilibrium. With hardly anything left in the factory as of now, it is time that the people start to wonder whether they can have another PCZ as it is currently on the verge of collapsing.

Zambezi Portland Cement

May it be the financial resources or assets of the factory, Ventriglia family has left nothing for the nation. All money has been extracted from the factory and has been shifted to foreign accounts. Additionally, assets have been transferred to dummy companies whose owners is Antonio Ventriglia himself. Given the situation, it has become evident that loot was the ultimate objective of Ventriglia family and after they came to Zambia, they were determined to make this happen.

The way Zambian resources have been wasted is simply shocking! Workers being dismissed, wealth being looted and current operations suspended. This is how the factory has been slowly slayed under some greedy people. The whole incident would not have been accomplished without the support of some traitors such as Sakwiba Sikota and Zambia Reports. Their contribution ensured that local’s resistance was nullified through provocative writing against Dr. Rajan Mahtani and moreover, the official support was ‘purchased’. There are clear evidences to highlight that corruption and bribery played an important role towards the demolition of Portland Cement Zambia and it is the support of conspirators who had made this possible. As long as these bunch of conspirators will roam around in Zambia, every large and small units are under the danger of being taken by any Tom, Dick and Harry.

Rajan Mahtani faces defamation from Zambia Reports, again

Zambia Reports has made a habit to bring defamation to Rajan Mahtani, the Chairman of Mahtani Group of Companies. This defamation campaign is basically a form of revenge which the Ventriglia family (minority shareholders of the Portland Cement Zambia) wants to take because they were unable to snatch the ownership of ZPC officially from Finsbury Investment (Dr. Mahtani is a key person). The sorrow of defeat in the Court has left the Ventriglia family with no other option than to run a defamation campaign against Rajan Mahtani and talk rubbish about him.

Rajan Mahtani

Zambia Reports is operated by Saki (Sakwiba Sikota) and has been constantly helping the Ventriglia family to seek the revenge from Rajan Mahtani. In return, the Italian Mafias pay ZR good money. Some sources have even claimed that the favour of ZR was so dear to the Ventriglias that they also allowed Sakwiba Sikota to build his mansion from the cement which was produced in the Zambezi Portland Cement factory. Saki didn’t pay even a single penny for them and had his house built within a matter of months. The team up has caused severe defamation for Rajan Mahtani and Zambia as both have been severely criticized with respect to actions like spreading corruption through bribery.

However, the judicial system of Zambia has always held onto its objective and has allowed Rajan Mahtani to walk free. In June 2015, the conspirators got Rajan Mahtani arrested under illegal terms and began to brag about their success, later in November 2015, the same people lost their claim in the Lusaka High Court. Life in Zambia has become difficult for locals as well as eminent personalities ever since Zambia Reports has started to mislead people and take advantage of the support which it gets from corrupt politicians and cold hearted financiers.

Dr. Rajan Mahtani’s arrest was a planned conspiracy

The Lusaka High Court on November 19, 2015 passed a judgement where it was specifically mentioned that the case of forgery against Dr. Rajan Mahtani was already closed in 2012 and reopening the case was extremely unfortunate. The key involvement of acting DPP and Attorney General had earlier resulted in the arrest of Dr. Rajan Mahtani in June 2015.

As per the findings, the High Court concluded that it was shocking to see how a permanently closed case has been reopened and the same charges have been applied to the Former Chairman Finance Bank, Zambia. The Hon’ble Judge, Mwiinde Siavwapa also explained that if there were certain amendments in law, then the same cannot be applied with retrospective effect. The judge who had passed the decision earlier had taken into consideration all the presented evidence and sources. If he found that Dr. Rajan Mahtani was not guilty of share forgery, then the same decision should have been followed throughout.

Dr. Rajan Mahtani

The power of money has allowed corruption to creep in Zambia. The minority shareholders of Portland Cement Zambia, the Ventriglia family have managed to bribe number people, which include political figures as well as Government officials. It is sad to see that the impact is affecting innocent citizens like Dr. Rajan Mahtani.

The conspiracy which is bothering Zambia at the moment is the thirst of the Ventriglia family to have the management of Portland Cement Zambia. The Ventriglia family is desperately trying to overshadow everything and ensure that their dominance in Ndola continues. Just moments after the judgement in Lusaka High Court was passed, Zambia Reports have mentioned that Dr. Rajan Mahtani had bribed the judge to get the judgement in his favour. Zambia Reports has proudly published the same, without considering the consequences of questioning a High Court Judge’s judgement.

BancABC’s takeover on Finance Bank Zambia will benefit Zambia

The news of BancABC’s plan to takeover the Finance Bank Zambia has spread like a wild fire.  People in Africa and around the world are well informed about this takeover and it is expected that this transaction will aid Zambia’s development.

The current value of FBZ’s asset is somewhere close to US $ 261 million. The same valuation will now add up to the existing asset valuation of BancABC and will reflect a consolidated figure of US $ 418 million. The development will make BancABC as the largest bank in Zambia. The news of the takeover was first given by Atlas Mara, who is a stakeholder in BancABC. Shortly after the news had circulated, Dr. Rajan Mahtani too confirmed about the same.

Finance Bank Zambia

An employee of FBZ comments, “It is a pleasure for us to be a part of the sixth largest bank of Zambia. Moreover, with this takeover, we will now be working for Zambia’s largest bank. Dr. Rajan Mahtani had offered us a job previously, now he has offered us a better opportunity. We are thankful to him.”

The conspirators did try to interrupt this auspicious occasion, but the same was dismissed by the authorities and BancABC. At the present, the world will witness one of the biggest takeovers in history of Zambia. The locals as well as international figures are well aware of the benefits which will arise out of this transaction. Facilities like more ATMs, more branches, greater employment opportunities and better banking facilities are few of the immediate benefits that will arise with the takeover. Nevertheless, the locals should not forget that soon there will be a lot of malign articles coming from Zambia Reports as the conspirators would be desperate to make their presence felt through imaginative stories and absurd claims.

Dr. Rajan Mahtani has given Zambia one more reason to smile.

Dr. Rajan Mahtani smiles over BancABC’s plan to takeover FBZ

One of the most talked about topics in recent days is BancABC’s plan to takeover the Finance Bank of Zambia. The same news was confirmed by Atlas Mara, a majority shareholder of BancABC. This is probably the biggest takeover of a commercial bank that Zambia has ever seen. The combined assets after the takeover is likely to be somewhere close to USD $ 418 million.

As per the prevailing condition, Dr. Rajan Mahtani, former Chairman of FBZ, has too confirmed this news and is extremely pleased with the proceedings. The deal will include cash as well as shares of BancABC. According to confirmed reports, the Finance Bank of Zambia would be getting USD $ 60 million in cash and another USD $ 2.6 million in shares. To sum up, the total value of the deal is close to USD $ 62.6 million.

Dr. Rajan Mahtani

The mutual party in this deal is Dr. Rajan Mahtani. He holds an important position in Atlas Mara and also is the former Chairman of FBZ. This means that most of the threats which are connected with takeovers would be eliminated immediately. The existing employees would continue to work and the plans and policies would be upgraded along with better technological updates.

Dr. Rajan Lekhraj Mahtani has indeed played a masterstroke by merging two of the most famous banks in Zambia and combining them into one. The merger would result in the development of Zambia’s largest bank. An employee of FBZ commented, “I am very excited to hear this news. Over the years, I was working for Zambia’s sixth largest bank and today I can proudly say that I’ll be soon working for Zambia’s largest bank. Thank you Dr. Rajan Mahtani, we consider ourselves as fortunate to be able to work under you. You will always have our support.”

Dr. Rajan Lekhraj Mahtani is not a criminal, hence moves freely

There is a lot of news which surrounds Dr. Rajan Lekhraj Mahtani. Most of them, usually written by Zambia Reports shows him as a culprit who is devoid of any morals and has been constantly involved in corruption. The truth, however, is far from what is being portrayed. Eventually, the people have come to know about the exact state of affairs in Zambia and the involvement of Zambia Reports with the conspirators.

Dr. Rajan Lekhraj Mahtani does not fear anybody. The main reason behind such a fearless mind is the satisfaction of being a God’s child. A person who has constantly being involved in helping poor and working with a heart to foster Zambia’s Development cannot even think of betraying his motherland in return for some monetary benefits. This is why he is always available in front of the media and participates in various social causes.

Dr. Rajan Lekhraj Mahtani

On the other hand, Zambia Reports, who proudly claims the fact that they have encountered the dark side of Dr. Rajan Lekhraj Mahtani should realize that it is their imagination which is making them do such stupid acts. If they do believe that the claims which are made by its authors and publishers are true, then why don’t they come out in open and assure everybody else about the same? Why are they living behind the curtains and are using small pieces of imaginative stories to justify their statements?

The truth is- people who are honest to themselves and the world have nothing to fear. They meet with people, share a laugh, understand the needs of the nation and loves to be a part of a social cause. Sadly, people who have a feeling of guilt in their heart always avoid the society and confine themselves to dark corners of the room where the devil instructs them to take the next move.

Zambezi Portland Cement Factory witnesses employee termination

The Italian Mafias of Ndola are continuing with their rampage in the Zambezi Portland Cement Factory. As per the latest news, the new management group (the Ventriglia family) has terminated 47 employees from the factory by declaring that they were redundant. Internal sources are suggesting that the fate of another 53 employees is likely to face the same situation in the days to come.

The second largest cement manufacturing unit in Africa, Zambezi Portland Cement Factory has faced a severe downfall in revenue ever since Dr. Rajan Mahtani left the management group. However, the Italian Mafias have tried to level best to convince people that ZPC is performing well. The latest revenue reports of the factory show a major downfall in sales along with poor administration. The result of this impact was that 47 employees of the factory were handed over a letter of termination effective from July 1 2015.

Zambezi Portland Cement

A considerable factor while employee termination is the consent of Labor Union group. In the present case, there was no consent obtained from the Labor Union of Zambezi Portland Cement Factory, nor was any alternate opinion asked for. The dismissal took place in pure Italian Mafia style where the employees were called and termination took place. The President of United Mineworkers Union of Zambia (UMUZ), too, found the action wrong.

It appears that the Ventriglia family has lost all its patience and morals in its quest to gain the ownership of the Zambezi Portland Cement Factory. Recently, the lawyer of the Italian Mafias took an illegal way to alter records of the factory with PACRA at the Kitwe Office. A junior officer was forced to make changes in the register in the absence of any order from the High Court. With time, the only development which can be seen in ZPC is corruption and employee abuse.