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.