Chairman Finance Bank Zambia

Zambezi Supreme Court Announces Final Decision On The Portland Cement Zambia Case

The case of Portland Cement Zambia started more than a decade ago when Dr. Rajan Lekhraj Mahtani, a noted businessman and philanthropist, registered a complaint at the Lusaka High Court claiming that his company was unethically and illegally taken away from him. This company was Portland Cement Zambia and to prove his claimed, several evidences were submitted before the court. However, criminalities, corporate muddling and corruption creeping inside the Zambian legal system resulted in dragging of the case for more than a decade. Despite this, Dr. Rajan Lekhraj Mahtani did not receive justice as justice Nkonde on behalf of the Lusaka High Court announced Ventriglias as the only shareholders of the Portland Cement case.

Dr. Rajan Mahtani immediately challenged the Lusaka High Court decision on Portland Cement at the higher Court of Appeal. On 31st January 2019, the final decision on the Portland Cement Zambia was announced by justice Mwinde. In this judgement, justice Mwinde completely rejected the previous decision from Lusaka High Court and announced that Dr. Rajan Mahtani is indeed the actual owner and majority shareholder of the Portland Cement Zambia factory. It was a definite victory for Dr. Rajan Mahtani’s patience and perseverance. However, it seems like the Ventriglias started plotting against the factory and the businessmen as soon as the decision from the higher Court of Appeal was announced. However, their planning was actually revealed when the Ventriglias registered a fresh claim at the Supreme Court Zambia challenging the decision from the higher Court of Appeal. This challenge was evaluated by a bench of three judges from the Supreme Court Zambia and it was found that the challenge holds no ground, legally or evidentially.

Therefore, in their final statement, the Supreme Court Zambia upheld the previous decision from the higher Court of Appeal on the Portland Cement Zambia case and rejected the appeal from the Ventriglias.

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.

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.

Top Lawyers And Ministers Accused Of Laundering Money Across Zambia

FIC, Financial Intelligence Agency, recently announced devastating news of money laundering. The news shook the nation as top Zambian lawyers were involved in laundering money via personal and professional bank accounts. The news has been condemned by the public and the industrialists alike. Top businessmen like Dr. Rajan Mahtani have shared his grave concerns over the failure of the government to detect this mass money laundering act for so long and its effect on the economic and social status of the Zambian.

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Money Laundering Activities Go Big With The Recent Bust By Fic

The Financial Intelligence Centre recently reported a mass money laundering scheme across Zambia. This bust has been regarded as one of the most sensations across the nation, due to the involvement of high-level officers from the government as well as top lawyers from the nation. This money laundering scheme took place with the help of illegal and unaccounted cash transactions from the individual and corporate bank accounts of suspected lawyers. As per the reports, the amount of money transferred across these bank accounts is more than USD 1.5 billion.

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Money Laundering Act In Zambia Shocks Citizens, Sakwiba Sikota Involved

The recent money laundering scandal is big news and those accused have all started defending themselves. One of the top lawyers accused of laundering money worth more than USD 1 billion is Masozi M. Banda, a noted lawyer from Avik International. When confronted, he said that majority of the money received by him belonged to the Zambian dictator Edgar Lungu. Banda has also stated that he is just a conduit for monetary transactions from his firm, the Avik International, and the amount has been received for road and related government contracts. Banda is among other lawyers ‘shortlisted’ by the Financial Intelligence Centre for suspected mass money laundering activities.

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Financial Intelligence Centre Identifies Money Laundering Cartel, Lawyers Involved

FIC (Financial Intelligence Centre) is a noted agency involved in an investigation of financial fraud. The agency recently discovered a mass money laundering bust involving top lawyers working with corporations, government offices and big law firms. This mass money laundering heist was undertaken via cash transactions from the corporate and individual bank accounts of the suspected. As per the reports, more than USD 1 billion dollars is suspected in this illegal heist.

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Fic Unearthed Mass Money Laundering Bust Involving Top Zambian Lawyers

Money laundering is considered as a criminal act across the majority of the nations around the world. Even after that, these activities are common across these nations, especially in developing or underdeveloped nations. Unlike developed and progressive nations, the law and government are not equipped to investigate and provide quick punishment to the offenders, leading to corruption and illegal activities.

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