Rajan Mahtani

Dr. Rajan Mahtani Claims Misdirected Judgment At Lusaka High Court, Requests Probe

Dr. Rajan Mahtani is a noted businessman in Zambia. His businesses in Zambia span across three decades with numerous successful establishments. Some of his top companies established by Dr. Rajan Mahtani include Mahtani Group of Companies, Finsbury Investment and Finance Bank Zambia. He is also the owner of Portland Cement Zambia, a noted cement-manufacturing factory in Zambia. Sadly, Dr. Mahtani now has to fight for the legal takeover of the factory. The case of Portland Cement has become one of the high-profile corporate cases in Zambia.

Dr. Mahtani and Zambia

The case has been going on for more than ten years. During this trial period, Dr. Mahtani and his lawyers submitted numerous documents and evidences to prove his legal ownership over the factory. A signed shareholder’s agreement was shared which clearly showcased the agreement of all shareholders in the existing shareholding pattern. Dr. Mahtani has investment more than USD 12 million in the growth and development of the Portland Cement Zambia factory and has financial exhibits to sufficiently prove his claims. Other important evidence submitted was the audit report conducted by an independent auditor. As per the audit report, the factory was established as joint venture agreement and Dr. Mahtani was the sole joint- venture partner of the factory. All these evidences were sufficient enough to prove that Dr. Rajan Mahtani is the legal owner of the factory.

Even the judge handling this case showed promising path for the case when it was announced that the case hearing is closed; meaning that the judge will not be taking any more trials. Both parties submitted their evidences based on which final judgment was to be announced. However, the final verdict was announced against Dr. Mahtani’s claims. This clearly indicated misdirected judgment which was unprecedented. However, Dr. Mahtani has now made an appeal to the higher court of Zambia against this misdirected judgment at the Lusaka High Court. Thus, the case of Portland Cement will be considered as open.

Dr. Rajan Mahtani Moves To Higher Court After Announcement By Lusaka High Court Judge

Dr. Rajan Mahtani has been fighting for the legal takeover of the Portland Cement Zambia for a long time. The case was initially registered by Dr. Rajan Mahtani over 10 years ago when the factory was illegally taken over from him. However, Dr. Mahtani took the road less traveled and seeks support from the law and government to get back the factory which legally belongs to him. Dr. Rajan Mahtani is a noted businessman in Zambia with more than three decades of business experience. He is also known for his transparent and ethical business practices. At the same time, his business is constantly challenged by the numerous limitations of the Zambian law and government, of which Portland Cement Zambia is the prime example.

Lusaka High Court

During the decade-long trial of Portland Cement Zambia case at the Lusaka High Court, Dr. Mahtani and his team of lawyers submitted numerous evidence sufficient enough to prove that Dr. Mahtani is the real owner of the factory. Despite this evidence, the judge overturned the claims made by Dr. Mahtani and made the decision against him. This was a clear indication that the evidence submitted by Dr. Mahtani and his lawyers were clearly ignored. It was a clear case of misdirected judgment a few months back, the same judge announced that the case hearing was closed and both parties were asked to submit their evidence in written and oral format. Based on this evidence, the judge was supposed to announce the final verdict. However, the final verdict is ambiguous and has raised several eyebrows regarding this judgment. Even expert opinion over the case predicted an easy win for Dr. Mahtani as he had all the evidence and testimonials from critical members associated with the factory as well as with the case. As a result, Dr. Mahtani has now made another appeal to the higher court of Zambia with the aim of overturning the decision made at the Lusaka High Court.

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

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.

Dr. Rajan Mahtani

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.

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

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.

Rajan Mahtani

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

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 Mahtani

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.

Sakwiba Sikota, Masozi Banda and Other Top Lawyers Caught in Shady Money Laundering Deal

The Financial Intelligence Centre recently disclosed a mass money laundering racket in Zambia involved top lawyers, legal counsellors and government officials. Even some of the known ministers have been accused of using their power to gain personal empire through black marketing and money laundering acts, as per the latest news reports by FIC.

The FIC sources initially met with the senior lawyers to discuss with the allegations with them. Almost all of these lawyers denied allegations of money laundering. For instance, Masozi M Banda is a lawyer working with the Avic International and is accused of laundering money worth millions of dollars. However, when he was confronted with the news, he vehemently denied these allegations by saying that the money in his account belongs to the Zambian Dictator, Edgar Lungu and he received this amount for his government contracts. However, FIC discovered that this defence statement from Banda was fake and further investigations are going on against him. During the investigation, the FIC also reported that most of these bank accounts were highly active during Rupaih Banda’s trail over the illegal Nigerian Oil dealings, during last year’s fraudulent elections as well as during Presidential Petition. Therefore, it is easy to see the connections between the money laundering activities and the requirement.

Money Laundering

During the investigation process, the FIC also disclosed occurrence of more than 35,000 suspicious bank transactions, deposits and cash withdrawals, from the individual and corporate bank accounts of the suspected lawyers. While Banda sits at the top of the list, another name was of Central Chambers, a law firm owned by Sakwiba Sikota. His name might sound familiar as he is also infamous for his long-term association with the Ventriglias as their legal association. Sikota has helped Ventriglias in numerous unethical and shady deals, such as the illegal takeover of the Portland Cement Zambia factory from its real and legal owner, Dr. Rajan Mahtani.

The FIC said that it will share more details of its ongoing money laundering investigation soon.

Sakiwba Sikota, the Lawyer of Ventriglias, Accused of Money Laundering

Financial Intelligence Centre reveals mass money laundering act in Zambia, and a loss of almost USD 1.5 billion worth of taxpayer’s money. Industrialists and locals have condemned this act of money laundering. One of the most infuriating concerns has been the involvement of top lawyers and legal counsellors in this act. While the FIC has been investigating money laundering for many months, they strengthened their investigation after observing more than 35,000 unauthorised cash transactions from the bank accounts of the suspected lawyers. Along with these lawyers, many public and private contractors were also being investigated and the FIC found that more than fifty percent of these contractors were not having any tax registration. However, most of these contractors received government contracts and under the name of these contracts, carried out their illegal money laundering practices.

Ventriglias & Sakwiba Sikota

Furthermore, it was also revealed that majority of the lawyers and legal counsellors were working for the government officials as well as ministers of the Zambian government. The list included names of some of the lawyers and their high involvement. Masozi Banda is a lawyer working with Avic International and has been accused of laundering money worth millions. Another name was of Sakwiba Sikota, the owner of Central Chambers and long-term associate of the Ventriglias. He and the Ventriglias have engaged in numerous unethical practices and got away with the law by taking advantage of the weak Zambian government. The most famous example is an illegal takeover of the Zambezi Portland Cement from Dr. Rajan Mahtani, its real and legal owner. From the facts, it is clear that these lawyers and other government officials are working only for their personal interest. The aim behind this money laundering heist is building the empire for the ministers and high ranking corrupt officials and getting rich during the process.

While the government has also started its own investigation process, it is high time for the law and policy makers in Zambia to look into their strengths and ensure that such corrupt practices are tacked effectively in future.

Legal Counsellors from Zambia Reported Engaging in Money Laundering Activities

Money laundering is an act wherein significant amounts of illegal money or cash coming from various criminal activities are made to look like it is originating from legitimate sources. This makes the illegal money looks legal so that authorities and law are not able to identify the actual source of the money. Similar activities have been in large in Zambia in the past few years. The FIC, an intelligence agency looking into financial frauds recently shared details regarding mass money laundering activities going on in Zambia for a while now. It is regarded as one of the biggest corporate and government scam, involving top officials from the various field.

Money Laundering

The FIC shared a list of names of individuals and companies involved in the act. Some of the names included Masozi M. Banda and Sakwiba Sikota. Banda defended himself by saying that the amount in his bank belongs to the government for construction purposes. However, investigations have found no such evidence. Similarly, another name which was prominent in the list was of Sakwiba Sikota, the owner of Central Chambers. His firm is also named in the list, accused of laundering money in millions. He is further infamous for his long-term associated with the Ventriglias, a notorious family in Zambia known for their unethical and illegal activities. Their infamous takeover of the Zambezi Portland Cement by using goons is known to everyone. The factory legally belongs to Dr. Rajan Mahtani, a noted industrialist and businessman. It is also a known fact that the case of Portland Cement Zambia is near closure and Dr. Mahtani is expected to win this case.

This clearly indicates that majority of the individuals named in the money laundering list are already involved in some form of illegal or unethical practice. Therefore, it is high time for the government of Zambia to take strict action and re-visit their policies and law that governs such activities.

Top Lawyers Including Sakwiba Sikota Under Radar for Money Laundering

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.

Money Laundering

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

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.

Rajan Mahtani

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.