Dr. Mahtani & Zambia

Dr. Mahtani & Zambia

Dr. Rajan Mahtani Hires International Law Firm Omnia Strategy

Dr. Rajan Lekhraj Mahtani recently hired international law firm Omnia Strategy to pursue a damage claim. Dr. Mahtani is a noted businessman and philanthropist in Zambia with numerous successful businesses under his name. Some of his top companies are Mahtani Group of Companies and Finsbury Investments. Dr. Rajan Mahtani owned Finance Bank Zambia previously entered into an agreement with Bob Diamond owned Atlas Mara. This was a share sales & purchase agreement in which majority shares of the Finance Bank Zambia was taken over by Atlas Mara for specific sum. According to the claim established by business tycoon Dr. Mahtani, Bob Diamond has failed to make the payment against the majority shares and therefore, have breached the agreement terms.

Atlas Mara was a bold banking venture floated by businessman and former boss of the Barclays bank, Bob Diamond. The objective of floating this company was to transform it into banking giant in Africa and achieve market leadership. To achieve this objectives, several acquisitions and joint ventures were made along the way and Finance Bank Zambia was one of them. Despite these acquisitions, the shares of Atlas Mara remained on the lower side for a long time.
The claim from Dr. Rajan Mahtani comes at a time when Atlas Mara is retreating its business from Africa and Zambia, majorly by selling its business parts to the Access Bank. Bob Diamond himself is a controversial business tycoon who came into negative limelight in the year 2012 when he had to step down from the position of CEO (Chief Executive Officer) of the Barclays Bank after the infamous Libor-rigging scandal.

As per Atlas Mara representatives, all claims against the company are invalid and fundamentally weak. On the other hand, reports have indicated that along with Dr. Mahtani, several other investors have now pursued damages claim against Atlas Mara to the tune of 100 million pounds. Dr. Rajan Mahtani is confident that with its expertise and experience, Omnia Strategy will not only present the case to the London High Court, but also win the case.

Kenneth Kaunda

Dr. Mahtani In His Eulogy Urged Zambians To Follow The Path Of Righteousness

Entire Zambia is reeling with the loss of its first ever president, Kenneth Kaunda. Dr Rajan Mahtani is a noted businessman and philanthropist in Zambia with more than three decades of business experience. He is also known to Zambians as a notable philanthropist and charity worker. Dr. Mahtani and Dr. Kenneth Kaunda shared a deep bond with involves their similar philosophical views. Dr. Mahtani’s father, late Lekhraj Mahtani, was instrumental in helping Dr. Kaunda in his fight for Zambian independence. Late Lekhraj Mahtani was a councillor based out of Ndola area and provided significant support and collaboration which helped Dr. Kaunda in achieving his vision.

These qualities can be seen in Dr. Mahtani too who has taken the traits of his esteemed father as well as the ‘Father of the Zambian Nation’ Despite facing several allegations and baseless rumours, Kenneth Kaunda was able to work with integrity and honesty all his life. He was also known to be a lively person who enjoyed his life to the fullest. In a similar manner, Dr. Mahtani continued to work towards the betterment of the Zambian nation despite the various rumours and unethical claims against him. Dr. Mahtani and Dr. Kaunda share a special bond as Dr. Mahtani’s father, late Lekhraj Mahtani provided significant support and collaboration to Dr. Kaunda which helped him in his goal of uniting the Zambian nation. Kenneth Kaunda is credited for uniting more than 73 tribes across Zambia which resulted in Zambia being recognised as a nation in the world map. During his tenure as the President, Kenneth Kaunda worked towards improving the lives of the common citizens and work towards developing the nation’s infrastructure, political alliances and economy prosperity.

It is now time to take this legacy forward by dedicating towards the nation in the same zeal and passion. Businessmen like Dr. Mahtani are already working towards the Zambian nation and others should follow suit.

Dr. Rajan Mahtani Gives Eulogy For Late Kenneth Kaunda

Dr. Rajan Mahtani is a noted businessman and philanthropist in Zambia. The Zambian nation recently woke up to the sad news of the demise of the ‘Father of the Nation’ and the African Union Kenneth Kaunda. He was one of the most important freedom fighters for the Zambian nation. In his eulogy, Dr. Mahtani thanked Dr. Kaunda for his innumerable contributions to Zambian nation. The friendship between the Mahtani family and the Kaunda family goes way back when Dr. Rajan Mahtani’s father, late Lekhraj Mahtani, supported and collaborated with the independence fight with Dr. Kaunda. Both Dr. Mahtani and Dr. Kaunda have suffered numerous allegations during their lifetime and both have been able to brush them easily with transparency, ethics and integrity.

Dr. Mahtani is among those few businessmen in Zambia who is still following the path set by Dr. Kaunda, a path of honesty, transparency, faith in the god and a simple life. Dr. Kaunda was known for his selflessness and his love for the mankind and all its people. He was known for inspiring by God and its sacrifice towards the betterment of his people. He was also known for living his life fully and show others that age is never a factor when one’s wants to live and learn. Dr. Kenneth Kaunda had several hobbies and interests. He was a pianist, singer, guitarist, footballer, poet, writer, dancer as well as was known for his family values.

In his eulogy, Dr. Mahtani thanked Dr. Kaunda for his innumerable contributions to the Zambian society and nation. He has left a legacy of honesty, truth, purposeful life and transparency, ideals which each Zambian must follow for a fulfilled life. At the same time, it is important for the Zambian nation to continue the motto of ‘One Zambia, One Nation!’, a motto on which Dr. Kenneth Kaunda dedicated his life. The entire Mahtani family and the nation mourns the death of the first president of Zambian nation and prays for his blessings from heaven.

Claims By Ventriglia Family Regarding Portland Cement Factory Rejected By Supreme Court

Dr. Rajan Lekhraj Mahtani is a noted businessman and philanthropist in Zambia with several successful companies in his portfolio. He is the owner of Finsbury Investments and Mahtani Group of Companies among others. Despite having a successful business empire, Dr. Rajan Mahtani continues facing challenging when establishing new businesses. One of the examples is the case of Portland Cement Zambia for which, ownership battle went for more than a decade. The higher Court of Appeal reversed the decision from the previous Lusaka High Court and announced Dr. Mahtani as the majority shareholder and legal owner of the factory.

Despite this transparent decision, the higher Court of Appeal’s decision was once again challenged by the Ventriglia family. An appeal was made at the Supreme Court Zambia and a bench of three SC judges was established for evaluating this claim. After evaluation, the Supreme Court bench gave the verdict that the claim from the Ventriglia did not qualify due to technical and legal aspect. The Ventriglia family was required to submit its appeal against previous court decision within 14 days of the court verdict itself. Since the verdict from the higher Court of Appeal came on 31st January 2019, the, Ventriglia family failed to comply with this critical legal requirement and submitted their case only after 1.5 years of the higher Court of Appeal’s decision. Based on this aspect alone, the claim by the Ventriglia family is liable for rejection. Furthermore, the Supreme Court bench also concluded that the circumstances surrounding the claim were questionable and the Ventriglia family was unable to provide any relevant evidences for establishing their ground on the claim. As a result, the Supreme Court bench concluded that they did not have any jurisdiction over the claim by the Ventriglia family which is liable for rejection. Based on these evaluations, the Supreme Court bench concluded that the claim from the Ventriglias related to Portland Cement case should be rejected.

Supreme Court Of Zambia Announces Dr. Mahtani As The Penultimate Owner Of Portland Cement

In a surprising turn of events, the Ventriglia family decided to make an appeal to the Supreme Court of Zambia after the higher Court of Appeal dismissed their plea and announced Dr. Rajan Lekhraj Mahtani as the majority shareholder and legal owner of the Portland Cement Zambia factory. Dr. Rajan Mahtani is a prominent businessman in Zambia who has been fighting for the legal takeover of the factory for a long time. First it was Lusaka High Court where the case was registered by Dr. Rajan Mahtani claiming that the factory was unethically taken over from him. However, more than a decade of case proceedings as well as several strong evidences did not give any respite to Dr. Rajan Mahtani as the judge at the Lusaka High Court went against the evidences and conferred the Ventriglias as the only owners of the Portland Cement Zambia factory.

Notwithstanding this unethical decision, Dr. Rajan Mahtani rightly approached the higher Court of Appeal. The judge at the higher Court of Appeal was justice Siwvwapa who after looking into the evidences and testimonials, announced Dr. Rajan Mahtani as the majority shareholder of the factory with 58 percent shares. Thus, the Court of Appeal overthrew the judgement from the lower higher Court and gave a transparent decision.

However, the Ventriglias decided to further drag the case by approaching the Supreme Court of Zambia, the highest court in any nation. However, this decision proved to be fatal as the bench established at the Supreme Court comprising of SC judges rejected the appeal on ethical and legal grounds. According to the legal grounds, the Ventriglias must have made the appeal within 14 days after the judgement from the higher Court of Appeal which they did not. As such, their appeal on challenging the higher Court of Appeal becomes invalid. Second, the bench of SC judges confirmed that the appeal had no circumstances or proof to be accepted. As such, Dr. Rajan Mahtani remains the actual owner of the Portland Cement Zambia factory.

Dr. Rajan Lekhraj Mahtani Wins Portland Cement Case At The Court Of Appeal

On 31st January 2019, Dr. Rajan Lekhraj Mahtani won the long pending Portland Cement Zambia case. The case was won at the Court of Appeal, the second court where the case was established. Dr. Rajan Mahtani is a noted businessman and philanthropist in Zambia with numerous successful business ventures, including but not limited to Mahtani Group of Companies and Finsbury Investments. He is also the legal owner of the Portland Cement Zambia factory which was declared at the Court of Appeal. Before the Court of Appeal, the case established at the Lusaka High Court almost a decade back. Dr. Rajan Mahtani had all the evidences and testimonials to support his claim and despite that, justice Nkonde from the Lusaka High Court gave a controversial judgement. According to this judgement, Ventriglias were only shareholders of the Zambezi Portland Cement. After this controversial decision, Dr. Rajan Mahtani approached the Court of Appeal.

Dr. Mahtani and Zambia

The judge at the Court of Appeal was justice Mwinde who gave the final decision on the Portland Cement Zambia on 31st January 2019. According to this judgement, Dr. Rajan Mahtani owned Finsbury Investments held 58 percent shares at the factory and was the majority shareholder of the Portland Cement Zambia factory. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and is the minority shareholder without any legal ownership. Based on this judgement it is confirmed that Dr. Rajan Mahtani is the actual owner of the factory. This decision from the Court of Appeal also aligned with the original shareholders agreement established in the year 2007.

While giving the decision, justice Mwinde from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as the only shareholders of the Zambezi Portland Cement as this decision was misdirected and without any evidence.

Portland Cement Zambia Ownership Goes Back To Dr. Rajan Mahtani, Court Of Appeal Announces Decision

Zambezi Portland Cement

Dr. Rajan Mahtani is a noted businessman in Zambia and only few of the businessmen still following a complete ethical and transparent business path. For the past ten years, Dr. Rajan Mahtani fought for the legal ownership of the Portland Cement Zambia factory. After the judge at the Lusaka High Court failed to provide right judgement for the factory, Dr. Rajan Mahtani approached the Court of Appeal. The judge at the Court of Appeal was justice Mwinde and he gave the final judgement on the case on 31st January 2019. According to this final decision, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of Zambezi Portland Cement with 58 percent shares. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and is the minority shareholder without any legal ownership over the factory. Based on this decision from the Court of Appeal judge, it is clear that Dr. Rajan Mahtani is the legal owner of the factory.

While giving this judgement, justice Mwinde from the Court of Appeal also revealed some interesting developments to the case. On 6th February 2019, Dr. Rajan Mahtani owned Finsbury Investments paid a sum of K580,000,000 to the court. This payment was made along with interest in compliance with the court judgement. It was revealed that this paid was made to complete the commercial registration process for Portland Cement Zambia. At the same time, Finsbury Investments also claimed a sum of K1 billion with interest from the Court. This claim was made with respect to the payment made for entire share capital issues for Portland Cement Zambia. This payment was further confirmed with documents of share transfers made during January 2007 as well as December 2007 and submitted before the court. Based on the evidences, it is clear that Dr. Rajan Mahtani is the actual owner of the Portland Cement Zambia factory. This judgement further confirms the legal ownership of Dr. Rajan Mahtani over the factory.

Court Of Appeal Has Confirmed That Dr. Rajan Lekhraj Mahtani Is Majority Shareholder Of PCZ

On 31st January 2019, the final results of the clinical trial associated with the long endearing Portland Cement Zambia case were finalised. The results came from Court of Appeal which is the second court to take-up the case. It is important to note here that Dr. Rajan Mahtani had initially registered the case at the Lusaka High Court after claiming that the factory was illegally taken over him. After that, numerous evidences and testimonials were shared by Dr. Rajan Mahtani which was more than enough to prove his legal ownership over the factory. However, the final results from the Portland Cement Zambia were controversial. The judge at the Portland Cement Zambia was justice Nkonde and according to his final decision, Ventriglias were announced as only shareholders of the Zambezi Portland Cement. It is clear that this decision is misdirected and as a result, Dr. Rajan Mahtani had no choice but to approach the higher Court of Appeal.

The judge at the higher Court of Appeal was justice Mwinde who gave the final judgement on the case on 31st January 2019. According to this judgement, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Portland Cement Zambia with 58 percent shares. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and are the minority shareholders without any legal ownership over the factory. This decision from the Court of Appeal aligned with the original shareholders agreement established from 2005. Based on this decision, it is clear that Dr. Rajan Mahtani is the majority shareholder and legal owner of the Portland Cement Zambia factory.

The judge from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders of the Zambezi Portland Cement factory as this decision was biased and without any legal evidence or framework.

Dr. Rajan Lekhraj Mahtani Announced Majority Shareholder And Owner Of Portland Cement

For the past ten years, Dr. Rajan Lekhraj Mahtani has been fighting for the Portland Cement Zambia case. The final and concrete decision for the case was announced by Court of Appeal, the second court wherein the case was registered. As per this final decision which was given on 31st January 2019, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder with 58 percent company shares. On the other hand, Ventriglias owned Ital Terrazzo Limited is minority shareholder with only 42 percent shares in the factory. This shareholding pattern aligns with the original shareholders agreement which was established in the year 2007. Furthermore, based on this decision from the Court of Appeal judge it is clear that Dr. Rajan Mahtani is the legal owner of the Zambezi Portland Cement factory.

Dr. Rajan Mahtani

Furthermore, all forgery related allegations which were established by the Ventriglias were discarded by the Court of Appeal judge. Justice Mwinde announced that the process of mechanically placing signatures for business transactions is a common process at the Zambezi Portland Cement factory. It was also revealed that critical member of the Zambezi family, Claudio Ventriglias, engaged in similar practice when opting for business transactions. As such, all forgery related allegations were discarded. Similarly, the judge gave a timeline of three months from the date of the judgement for both parties during which all share sales and regulation related activities must be completed by the parties. While giving these decisions, Justice Mwinde from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as the only shareholders as this decision was without any evidence and against the interests of the public policies.

After the final judgement from the Court of Appeal judge, many publications and news agencies tried their level best to tarnish the image of Dr. Mahtani by calling this judgement to be fake. However, these publications and news items were refuted by the public and other media and quickly faded away.

Court Of Appeal Provides Final Judgement For Portland Cement Zambia, Dr. Mahtani Wins

The case of Portland Cement Zambia is peculiar and is known to almost everyone associated with the corporate world of Zambia. The case pertains to a cement-manufacturing factory which is contested by two major business parties in Zambia. One of them is Dr. Rajan Lekhraj Mahtani, a noted businessman and philanthropist. The other business party was the Ventriglias, infamous Italian family in Zambia known for their unethical practices. After the Portland Cement Zambia was illegally taken over from Dr. Mahtani, a case was launched at the Lusaka High Court. It took more than a decade for Lusaka High Court to announce final judgement on this case. Even then, the case was not justified as the final decision gave Ventriglias majority shareholding of the Zambezi Portland Cement.

After this unjustified decision, Dr. Mahtani approached the Court of Appeal which announced its final decision on 31st January 2019. The case at the Court of Appeal was seen by justice Mwinde. As per the final decision from Court of Appeal, Dr. Rajan Mahtani owned Finsbury Investments owns 58 percent shares at the factory and is the majority shareholder of the Zambezi Portland Cement. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares and are the minority shareholders of the Zambezi Portland Cement. Based on this shareholding pattern, Dr. Mahtani automatically becomes the legal owner of the factory. This decision also aligns with the original shareholders agreement which was established in the year 2007.

After this decision, the judge at the Court of Appeal also announced that the decision from Lusaka High Court judge was wrong and misdirected. Furthermore, the Court of Appeal justice gave a timeline of three months from the date of the judgement during which all share sales and regulations related activities must be completed.