Dr. Rajan Mahtani And Team Move To Higher Court Against Lusaka Judgement

July 31, 2018

Portland Cement Zambia is one of the oldest cases in the Zambian corporate history. It is also among the most high-profile and talked-about cases due to the involvement of top businessmen in Zambia. Dr. Rajan Mahtani, who is noted for his numerous business and entrepreneurial achievements across the Zambian nation, registered the case at the Lusaka High Court almost 10 years back. The case was launched with the objective of gaining back the legal ownership of the Portland Cement Zambia factory, a premier cement-manufacturing factory in Zambia. As per expert opinion, the factory legally belongs to Dr. Rajan Mahtani and after it was forcefully taken away, the case was registered at the Lusaka High Court.

During the trial of this case, Dr. Mahtani and his team of lawyers have submitted numerous evidence and facts that sufficiently prove that Dr. Mahtani is the real owner of the factory. Some of these documents and evidence included signed shareholder’s agreement, financial exhibits which clearly showcase more than USD 12 million worth of investment by Dr. Mahtani owned companies as well as independent audit report by an independent auditor. As per this audit report, the factory was established as a joint-venture agreement and Dr. Rajan Mahtani is the sole joint venture partner of the factory.

The final verdict was then announced by the judge and it was not expected. The final verdict was given against Dr. Mahtani’s claims, even though almost all of the evidence were sufficient enough to prove his real ownership over the factory. Experts have considered this judgment as shocking. However, Dr. Rajan Mahtani is not bogged down with this judgment and has now approached the higher court of appeal against the judgment made at the Lusaka High Court. Dr. Mahtani has shared all details of the court proceedings along with the evidence and documents ignored by the high court judge and are expecting a reply soon.

Zambian High Court Fails to Deliver Justice, Dr. Rajan Mahtani Moves to Higher Court

July 11, 2018

Dr. Rajan Mahtani is a celebrated businessman in Zambia. In this business career spanning more than three decades, he has faced numerous good and bad events and has come out as one of the most successful , honest and transparent businessman in Zambia. He is the owner of companies like Mahtani Group of Companies and Finsbury Investment. He is an avid charity worker and has made numerous contributions for the social and economic development of Zambia societies and communities.

Dr. Mahtani has been fighting for the legal takeover of another one of his establishments for the past ten years, Portland Cement Zambia. During these trial years, numerous changes were seen such as transfer of judges and non-availability of the respondents or evidences from their side. However, no judgment was given even though the lawyers from Dr. Mahtani’s end left no stones unturned in securing and providing critical evidences for supporting his claim.

The judge overseeing the case at present, Justice Nkonde, made a positive announcement few months earlier when he stated that in order to speed up the judgment process, the case hearing was over. This meant the judge would not take any more trials. Both parties were asked to submit evidences and testimonials in written as well as oral format. Based on these testimonials and evidences, the justice was supposed to make the final verdict. It was a winning situation for Dr. Mahtani as his evidences were all factual and more prominent than those submitted by the respondents. However, the final verdict announced by the judge was a shocking phenomenon. The judge announced the final verdict against Dr. Mahtani. It was clear that the significant evidences were not even taken into account.

While this judgment is certainly surprising and shocking, Dr. Mahtani has now taken action against this misdirected judgment. An appeal has been made at the higher court of appeal at Zambia wherein Dr. Mahtani has shared details of the event and is awaiting response.

Dr. Rajan Mahtani Praised for his Contribution Towards Success of African Summit 2017

July 4, 2018

It is important for any nation and its government to have open discussions on the critical social, cultural, political and environmental issues related to the nation. One of the platforms which provides opportunities for discussing similar critical issues and national problems related to economy or society are economic summits, events and programs. These summits create a platform wherein top industries, corporate houses and noted individuals from different fields join together to share their ideas, opinions and discuss about different solutions to the burning questions gripping the nation. One such event is African Summit which is held every year. This year’s African Summit was held sometime back and was a huge success with participation from numerous industrialists and corporations.

Top businessmen and company owners attended the event. Among them was Dr. Rajan Lekhraj Mahtani, one of the most respected and honest businessmen of Zambia. Dr. Rajan Mahtani is noted for his numerous successful businesses, including Finsbury Investments Limited, Mahtani Group of Companies and Finance Bank Zambia. He is also an avid philanthropist and charity worker. However, his charity works are rarely publicized or advertised for public relations. This is why many of the participants were surprised when the Press Secretary of the Prison Fellowship Zambia released a press release praising Dr. Mahtani for his significant financial contributions in the summit. Prison Fellowship International was one of the major event planners and organisers of African Summit and Dr. Mahtani’s significant financial contribution supported the successful completion of the event. Dr. Mahtani was also praised for his down to earth nature and his active participation in the event. During the event, he actively participated in numerous seminars, debates and discussions. He was also open to discussions with young entrepreneurs and business executives, sharing with them his business wisdom.

Unlike most businessmen or corporate houses, Dr. Mahtani never uses his charity works or other philanthropic activities for personal gains or publicity. His companies are based on transparency and ethical stance as well as given priority to the underprivileged sections of the society.

Dr. Mahtani Unhappy with Lusaka HC judgment, Appeals to Higher Court

June 27, 2018

The case of Portland Cement Zambia is age-old. It is a noted cement factory which was successfully running under the leadership of Dr. Rajan Mahtani. Dr. Mahtani is a noted businessman and philanthropist with numerous successful businesses under his name. Some of his top businesses include Finsbury Investment, Mahtani Group of Companies and Finance Bank Zambia. All of his companies have reached heights in terms of success, productivity as well as accolades from the citizens as well as the government. Apart from that, Dr. Rajan Mahtani has also successfully established networks and businesses outside Zambia, such as in the United Kingdom. This has also helped him in bringing numerous foreign investment opportunities.

Dr. Rajan Lekhraj Mahtani filed for the legal takeover of the Portland Cement Zambia almost a decade back. Since then, he has been fighting for the legal rights of the factory. During this time, the factory production dropped and the majority of the workers and staff were either laid off or left the factory. The trial of the case also stretched too long for various reasons. For instance, the judges handling the case during the initial years got transferred or couldn’t take the case any further. In many other occasions, one of the parties was either absent or unavailable due to numerous circumstances. All these issues resulted in this long pendency of the Portland Cement Zambia case.

The latest judge overseeing the case made some progress when he announced that the case hearing is closed and both parties were requested to bring their evidences in written and oral format. After reviewing these evidences, the judge was to announce the final verdict. However, the recent judgment made by the same judge was considered as unfair by many as he gave the verdict against Dr. Rajan Mahtani. As a result, Dr. Rajan Mahtani has now approached a higher court of law to appeal against this judgment.

Top Legal Counsellors Accused of Money Laundering and Corruption, FIC Reports

May 16, 2018

If the recent reports are to be believed, the economic condition of the Zambian nation is in a mess. This can be attributed to the latest money laundering claims, which has already dampened the economic and social development of the nation. The money laundering news was released by Financial Intelligence, which revealed that more than USD 1.5 billion worth of money is lost in this scam. At the same time, the actual amount of money lost by the government is expected to be much more, and the government is investigating this issue.

Two names that stood out in this list released by the FIC were of Masozi M. Banda and Sakwiba Sikota. Masozi M. Banda is a lawyer working with the Avic International and is accused of laundering money worth USD 1 million. While he has been defending himself by saying that the amount belongs to government contractors such as the construction of roads, the sources are investigating on this matter and no such records could be accessed from the government. Furthermore, Sakwiba Sikota is the owner of Central Chambers and long-time legal counsellor for the infamous Ventriglias. It is the same family who illegally took over the Portland Cement Zambia from Dr. Rajan Mahtani, its real owner. Dr. Rajan Mahtani is still fighting the case for the legal takeover of the factory at the Lusaka High Court.

It is clear that almost all of the individuals listed as per the FIC as well as accused of money laundering have engaged in unethical practices in the past too. This clearly indicates that multiple crimes and repeat unethical and illegal offenses. Therefore, it is time for the government to take action and ensure that proper punishment is given to these criminals.

Top Lawyers Including Sakwiba Sikota Under Radar for Money Laundering

May 10, 2018

The FIC recently revealed that a mass money laundering racket is undergoing with the Zambian nation and involves top lawyers and legal counsellors. The FIC also revealed the involvement of money worth more than USD 1.5 billion. As per the FIC sources, more than 50 percent of the organizations investigated in the money laundering bust which received government contracts were found to have no tax registration. At the same time, many of these accounts belonged to individuals who are politically exposed, meaning they are or have been entrusted with prominent public functions. As such, these politically exposed individuals used surrogates who conducted businesses on their pretext.

Along with the revelation, the FIC also released a list of names containing individuals who are topping the list of money launderers in terms of amount laundered. Some of the top names in this list included that of Masozi M Banda and Sakwiba Sikota. Masozi M. Banda is a noted lawyer from Avic International and is accused of laundering money worth more than USD 1 million. Sakwiba Sikota is also accused of laundering money worth same amount, under his company Central Chambers. Sikota is also infamous for his long-term associated with the Ventriglias, a notorious family in Zambia infamous for their unethical practices. Among them, the most outrageous was the illegal takeover of the Portland Cement Zambia by using goons. The cement factory belongs to Dr. Rajan Mahtani who is still fighting for its legal takeover at the Lusaka High Court.

All is not well for Sakwiba Sikota and the numerous lawyers caught in this money laundering act. The FIC has said that it is continuing its investigation which is expected to get further deeper with more revelations. Even the government has started their own revelations and is expected to support the FIC in strengthening the investigations. Once any new information is received by the FIC, they will be sharing with the public soon.

African Forum Press Secretary Writes to Dr. Rajan Mahtani, Shares his Contribution Story

May 1, 2018

African Summit is a regular industry event in Zambia wherein top personalities from various fields join together for discussions, debates on the burning issues that are currently gripping the nation and evaluate most appropriate pathways considering the economic, social and political strengths and weakness of the nation. The summit has been extremely successful in bringing high profile personalities in one place, providing a platform for successful generation of ideas and creativity. This platform has also been successful for budding entrepreneurs who get to know and meet the industry giants and gain valuable experience from them. The 2017 African summit was held recently and was a successful event. It was attended by many successful industrialists and businessmen.

Dr. Rajan Mahtani was also one of the attendees. He is a noted businessman, philanthropist and charity worker in Zambia. Dr. Mahtani has established a name for himself with his successful businesses as well as his immense contributions to the society. After the 2017 event was completed the Chief Press Secretary of ‘Prison Fellowship International’ thanked Dr. Rajan Mahtani is a press release. As per the press release, Dr. Rajan Mahtani had funded for the event which ultimately resulted in its success. Most other businessmen or companies would have made their contributions public, with the objective of gaining positive reputation and recognition. However, Dr. Rajan Mahtani has always kept his charity works and philanthropic activities out of limelight. He was further praised for his active participation in the event and helping young entrepreneurs with his business wisdom and knowledge. The press release was signed by the CEO (Chief Executive Officer) of the PFI himself, thanking Dr. Rajan Mahtani for his contributions.

Despite of the continued conspiracies against him, Dr. Rajan Lekhraj Mahtani has continued to work for the development and growth of the nation. His contributions are not only limited to businesses but also working towards the welfare of the citizens of Zambia.

Dr. Rajan Mahtani & his team Happy with the New Court Announcement

April 13, 2018

The Portland Cement Zambia case is no doubt one of the most talked about corporate cases in recent times. The case is between Dr. Rajan Mahtani and the Ventriglias. While Dr. Rajan Mahtani is a noted businessman, philanthropist and charity worker; the Ventriglias are infamous for their unethical practices such as using bribes or force to get what they want. This is exactly what they did in case of Portland Cement Zambia. Knowing that they do not stand any chance of taking over the factory in legal terms, they used goons to take control over the factory from Dr. Rajan Mahtani. Later when a case was launched by Dr. Mahtani for this illegal takeover, they casually defended themselves by saying that Dr. Rajan Mahtani did not pay for the shares he owns at the factory.

During the course of the court proceedings, Dr. Mahtani and his lawyers have submitted numerous documents and evidences that sufficiently prove his legal ownership over the factory. Some of these are signed shareholders agreement, financial exhibits which clearly shows his investment in the shares as well as in the factory worth more than USD 8 million as well as numerous testimonials from important members of the factory. Another important document which Dr. Mahtani shared is the audit report conducted by an independent auditor at the factory. The audit report clearly states that Dr. Rajan Mahtani is the legal owner of the factory which was established as joint venture. He is the sole joint venture partner and the rest of the members are just shareowners. The Ventriglias, on the other hand, have not shared any strong evidence to prove their claim.

The judge handling this case has announced that case hearing is closed and both teams have been asked to submit their evidences in written and oral format. Post evaluation of these evidences, final judgment will be announced soon.

Top Lawyers And Ministers Accused Of Laundering Money Across Zambia

April 9, 2018

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.

Money Laundering Activities Go Big With The Recent Bust By Fic

April 3, 2018

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.