Category Archives: Dr Rajan Lekhraj Mahtani

Dr Rajan Lekhraj Mahtani

Dr. Rajan Lekhraj Mahtani Honoured With Award By Forbes

The FIN leadership and philanthropic roundtable conference recently took place on 6th August 2021. It was also an event wherein business personalities from Zambia were invited to share their thoughts on leadership and its significance. Dr. Rajan Lekhraj Mahtani was not only an honorary speaker, but was also bestowed upon with one of the prestigious Forbes ‘Best of Africa’ awards.

While Dr. Rajan Mahtani shared his thoughts on leadership and the importance of leaders taking responsibility for the growth and development of the nation, the Forbes management duly realised his contributions. Dr. Rajan Mahtani was bestowed with the prestigious ‘Entrepreneur of the Year’ award 2021. One of the biggest contributions by Dr. Mahtani has been his company Mahtani Group of Companies which was established in 1981. It quickly became a conglomerate expanding its services to Malawi, Zambia, South Africa as well as several parts of the globe along with expansion of its operations to various sectors including financial services, mining, agriculture, insurance, real estate and energy. Through his entrepreneurial ventures, Dr. Rajan Mahtani has been able to provide employment and livelihood opportunities for thousands of Zambian along with development of infrastructure, social services and economy across several provinces. His philanthropic and charitable activities are often hidden as Dr. Rajan Mahtani rarely mentions them in his business portfolio.

He is the Founder & Chairman of the (PFZ) Prison Fellowship Zambia, a program affiliated to (PFI) Prison Fellowship International situated in Washington. The program provides opportunities to the inmates & ex-inmates to create meaningful developments along with providing opportunities to their families so that they do not fall into the same path. He has also enabled self-sufficiency across medical and food supplies by sponsoring agricultural projects. Dr. Mahtani’s contributions towards the Zambian educational sector is significant. Dr. Rajan Mahtani launched Stephen Malama award in the year 2013 which is given to the best Zambian bar candidate along with scholarship programs for furthering their education. Forbes acknowledged these contributions by Dr. Mahtani while presenting the award.

Dr Rajan Lekhraj Mahtani

Portland Cement’s Ownership Remains Unchanged After Higher Court Of Appeal’s Decision, Confirms Supreme Court Zambia

Finsbury Investments is a noted financial company in Zambia under the ownership of Dr. Rajan Lekhraj Mahtani. Finsbury Investments took over majority shareholding and ownership of the Portland Cement Zambia during the period of 2006-2007. This ownership was officiated with an original shareholders agreement. Despite this official statement, the factory’s ownership was disputed and the legality of the shareholders’ agreement was questioned. However, Zambian people were not surprised as the entity responsible for this disruption is known to create such nuisances from time to time. The ownership of Portland Cement Zambia was questioned by the Ventriglia family and this resulted in a case at the Lusaka High Court. Despite having all evidences and testimonials in his favour, Dr. Rajan Mahtani was not able to persuade the court that was blinded by political maneuverers, corporate criminality and political pressures. As a result, Lusaka High Court announced verdict in favour of the Ventriglia family.

Apart from being extremely transparent and ethical, Dr. Rajan Lekhraj Mahtani is a no non-sense person and he knew that if Lusaka High Court fails to give him justice, he needs to approach a higher Court. As such, Dr. Rajan Mahtani immediately approached the higher Court of Appeal and received justice on 31st January 2019. The final verdict from the higher Court of Appeal reversed the decision from the Lusaka High Court and announced Dr. Mahtani as the majority shareholder and legal owner of the Portland Cement Zambia factory. Fast forward to almost two years, the Ventriglia family once again decided to appeal to the Supreme Court against the higher Court of Appeal’s decision.

A bench of three Supreme Court judges was established for evaluating this claim by the Ventriglia family. After evaluation, the SC bench came to the conclusion that they did not comply with critical requirement of submitting case within 14 days. As such, the Supreme Court bench effectively rejected their case.

Dr Rajan Lekhraj Mahtani

Dr. Rajan Lekhraj Mahtani To Remain The Legal Owner Of The Portland Cement Factory, Confirms Supreme Court

The Portland Cement Zambia factory is one of the most disputed factories in Zambia. Since the occurrence of the major shareholding re-organization associated of Portland Cement, the factory is being constantly disputed for its ownership. One of the most controversial aspects associated with this factory is that despite having all evidences and testimonials, the actual owner had to fight for more than a decade to receive justice. In the year 2007, the shareholding of Portland Cement was re-organized via on original shareholding agreement. Based on this agreement, Dr. Rajan Mahtani owned Finsbury Investment received 58 percent shares and became the majority shareholder of the factory. According to this same argument, the Ventriglia owned Ital Terrazzo Limited held 42 percent shares and was announced as only minority shareholder of the factory. After finalization of this shareholding pattern, Finsbury Investment secured loan from PTA bank for completing the factory’s construction and also procured further funds for starting a growth plan for the factory.

In this latest plan, the Ventriglia family disputed the legality associated with the original shareholding agreement and even influenced the decision of the Lusaka High Court when the case of Ventriglia family illegally taking over the factory was approached at the Court. This was done by political meddling, corporate criminality, bribery and similar activities which are common traits for them. After Lusaka High Court judge announced Ventriglias as the only shareholders of Portland Cement, Dr. Mahtani approached the higher Court of Appeal and received justice on 31st January 2019 when higher Court of Appeal judge Mwinde reversed the Lusaka High Court decision and announced Dr. Mahtani as the only majority shareholder and legal owner of the factory.

The Ventriglia family recently approached the Supreme Court claiming that the decision by the Court of Appeal was wrong. However, the Supreme Court bench thoroughly evaluated the claim and found it to be legally and evidentially invalid. As such, it was rejected.

Dr Rajan Lekhraj Mahtani

Challenge By The Ventriglias Against Court Of Appeal’s Decision On Zambezi Portland Rejected By Sc

In the month of May, 2018, justice Nkonde on behalf of the Lusaka High Court gave a controversial decision to the Zambezi Portland Cement case which was initially registered by Dr. Rajan Lekhraj Mahtani. In this decision, the judge declared the Ventriglias as the only shareholders of the Portland Cement Zambia factory.

However, Dr. Rajan Mahtani was able to quash this unethical decision by immediately challenging this decision at the higher Court of Appeal. Judge Mwinde on behalf of the higher Court of Appeal announced his final decision on 31st January 2019. According to this decision, Dr. Rajan Mahtani was found to be the majority shareholder and legal owner of the Portland Cement Zambia factory with 58 percent shares. Judge Mwinde also discarded the previous decision from the Lusaka High Court and announced that the actual amount payable against the majority shares hold by Finsbury Investments is K580,000 as opposed to K580 million claimed by the Ventriglias.

After more than 15 months of this decision from the higher Court of Appeal, the Ventriglias again created a buzz around the cement factory by challenging the decision at the Supreme Court Zambia. To evaluate their claim, a bench of three judges was established. After investigation, it was found that the Ventriglias failed the legal obligation behind making such appeal. According to the law, any appeal against previous court decision should be made within 14 days of the court judgement itself. The Ventriglias did not comply with this compulsory legal requirement, making their claim out of the jurisdiction of the Supreme Court. Similarly, the Supreme Court judges’ bench declared that the claims surrounding the challenge by the Ventriglias were controversial and therefore, it was rejected outright. By rejecting this claim from the Ventriglias, the Supreme Court Zambia further strengthened the decision from the higher Court of Appeal which clearly states that Dr. Mahtani is the actual owner of the Portland Cement factory.

Dr Rajan Lekhraj Mahtani

Decision On Portland Cement Announced By Supreme Court Zambia, Dr. Mahtani To Remain Owner

Dr. Rajan Mahtani

Finsbury Investments is one of the most notable and respected organizations in Zambia. The company was formed by Dr. Rajan Mahtani, who has established a unique position in Zambia with his transparent and ethical business practices. Dr. Rajan Mahtani is known for his several contributions towards the development of Zambian society. Over the course of more than three decades, Dr. Rajan Mahtani established numerous businesses, organizations and ventures in Zambia. Some of these ventures are Finsbury Investments, Mahtani Group of Companies and Finance Bank Zambia. He is also noted for his charitable and philanthropic contributions across the Zambian society, most notable are donations for infrastructural development of Zambian correctional facility and contributions in establishing the Steven Malama Award for honouring top graduating legal students and providing them with financial support.

The companies established by Dr. Rajan Mahtani are known for their transparent and ethical business practices and focus towards improvement of the Zambian society. Most of the companies established by Dr. Rajan Mahtani have dedicated themselves towards the upliftment of the Zambian society. With a similar objective in mind, the majority shareholding and legal ownership of Portland Cement Zambia was given to Dr. Rajan Mahtani after official declaration and establishment of original shareholders agreement. Despite this official statement, the Ventriglias implemented their crooked ways to take over control over the Portland Cement. After going through several courts and numerous case proceedings as well as an excruciating wait of more than a decade, Dr. Rajan Mahtani finally received justice on 31st January 2019 at the higher Court of Appeal. In this decision, the previous misdirected decision from the Lusaka High Court was reversed and Dr. Mahtani was announced as the majority shareholder and legal owner of the Portland Cement Zambia factory.

The Ventriglias tried to disrupt this decision by approaching the Supreme Court Zambia with a challenge but their claim was effectively rejected and it was announced that Dr. Rajan Mahtani will remain the legal owner of the factory.

Dr Rajan Lekhraj Mahtani

After Evaluation, Supreme Court Zambia Has Rejected The Appeal From The Ventriglias

Portland Cement Zambia is a cement-manufacturing factory that has faced significant ups and downs in its life cycle. After its inception in 2004, there were several changes in the business functions and leadership. In the year 2006, a final shareholding pattern was established and agreed upon according to which, Dr. Rajan Mahtani owned Finsbury Investments received 58 percent shares at the Portland Cement factory and was considered as the majority shareholder as well as legal owner of the factory. However, the Ventriglias disrupted this decision was filing an appeal which disputed the shareholder agreement’s legality. This turnaround was clearly an attempt towards depriving real owner of Portland Cement to receive majority shares of the factory. This attempt can be easily considered as mafia-life attempt and corporate criminality. Dr. Rajan Mahtani registered a case at the Lusaka High Court against this unethical act. However, it seems like the Ventriglias were able to influence even the court decisions with power politics and meddling in the affairs of the law. As a result, the Lusaka High Court made a decision which was surprising to say the least. Justice Nkonde on behalf of the Lusaka High Court announced Ventriglias as the only shareholders despite the fact that Ventriglias did not have any relevant evidences or testimonials.

However, Dr. Rajan Mahtani was able to achieve justice after appealing to the higher Court of Appeal. The judge at the higher Court of Appeal was justice Mwinde who gave the final decision on 31st January 2019. In this decision, justice Mwinde reversed the judgement from the Lusaka High Court and announced that Dr. Rajan Mahtani is indeed the majority shareholder and legal owner of the factory.

After more than 15 months of the above court of Appeal decision, the Ventriglias decided to once again try their luck by challenging the decision. However, the Supreme Court Zambia effectively rejected this challenge due to lack of evidences and legal precedence. Furthermore, the Supreme Court gave confirmation that Portland Cement should remain with Dr. Mahtani.

Dr Rajan Lekhraj Mahtani

Supreme Court Zambia Supports Decision From Higher Court Of Appeal, Rejects Ventriglias’ Claim

Dr. Rajan Lekhraj Mahtani is a known businessman in Zambia which numerous successful companies such as Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. He is also known for his transparent and ethical business practices. Dr. Rajan Mahtani and the case of Portland Cement Zambia is well-known case within the Zambian corporate. The factory was unethically taken over by the Ventriglias and after that, Dr. Rajan Mahtani registered a case at the Lusaka High Court. Despite having all evidences and testimonials, the judge at the Lusaka High Court dragged the case for more than a decade and gave a misdirected judgement. To counter this judgement, Dr. Rajan Mahtani spared no time and approached the higher Court of Appeal. The judge at the higher Court of Appeal was justice Mwinde who after looking into the evidences and testimonials, announced that Dr. Rajan Mahtani owned Finsbury Investments was majority shareholder and legal owner of the Portland Cement Zambia factory. It was also announced Finsbury Investments held 58 percent shares while Ital Terrazzo Limited held only 42 percent shares at the Portland Cement Zambia factory, making the former majority shareholder and legal owner of the factory.

To receive further justice, Finsbury Investments applied for embodiment order and was heard by justice Mwinde from the higher Court of Appeal. After evaluating the appeal, justice Mwinde rightly announced that the actual amount payment by Finsbury Investments to the Ventriglias against the majority shares transferred to Finsbury Investments was K580,000 which aligned with the 2012 Re-denomination of the Currency Act-8.

Sometime back, the Ventriglias challenged the decision from the higher Court of Appeal. This appeal was made to the Supreme Court of Zambia and to evaluate the validity of the appeal, a bench of three SC judges was established. After evaluation, it was found that the appeal was legally not feasible as it was way behind the legal policy of making appeals. Furthermore, the judges also declared that the evidences were not satisfactory and therefore, the appeal was rejected.

Dr Rajan Lekhraj Mahtani

Dr. Rajan Mahtani To Remain Owner Of The Zambezi Portland, Confirms Supreme Court

In the year 2018, justice Nkonde from the Lusaka High Court in his judgement had declared that the only legitimate & bona fide owners of the Zambezi Portland Cement limited were the Ventriglias. Justice Nkonde has also declared that any share ownership in the Zambezi Portland Cement factory claimed by the Finsbury Investments irrespective of the evidences and testimonials was to be considered as a fraudulent act. Justice Nkonde also declared that Finsbury Investments had failed to pay any property transfer tax and as a result, they cannot be considered as the owner or shareholders of the Portland Cement Zambia factory.

However, Dr. Rajan Mahtani took the right step and appealed to the higher Court of Appeal on seven different grounds. After looking into the evidences and testimonials, the higher Court of Appeal promptly dismissed the findings of justice Nkonde from the Lusaka High Court. According to the decision from the Higher Court of Appeal, the evidences and testimonials clearly indicated that the shareholding pattern of Zambezi Portland Cement were made consensually by all members of the factory. However, the higher Court of Appeal ordered Finsbury Investments to pay a sum of K580 million to Ventriglias for the majority shares transferred in the company’s name. This included the interest at Bank of Zambia based on the short fixed-term deposit rate.

According to the Supreme Court judges, the action by Finsbury Investments to launch an appeal at the Higher Court of Appeal was correct and the decision to involve the Rule-19 towards thwarting the further unethical progress from the Ventriglias was also correct. The appeal from the Ventriglias cannot be touched now as according to law, the escalation of the case to the Supreme Court of Zambia will amount to nothing as the decision from the Supreme Court on Zambezi Portland Cement remains same as the previous Court, higher Court of Appeal.

Dr Rajan Lekhraj Mahtani

Unethical Post Against Dr. Rajan Lekhraj Mahtani Exposed With Press Statement

Dr. Rajan Mahtani has more than three decades of business experience despite working in a difficult nation filled with economic and social hurdles, he has kept transparent and ethical business principles across all his companies. At the same time, it is also true that Dr. Rajan Mahtani has been outspoken about ethical individuals and organizations and have never supported scrupulous entities for his businesses. He is also a firm believer in seeking justice when wrong has been done to him or any of his entities.

In his business and professional career, Dr. Rajan Mahtani maintained transparent friendship with many big personalities across the nation. Late ex-President of Zambia Levy Mwanawasa was one of them with whom Dr. Rajan Mahtani had long-standing and transparent relationship, even before Levy Mwanawasa became the president of Zambia. As a result, the recent social media post from Miriam Mwanawasa who is the daughter of the late ex-President of Zambia was extremely controversial and surprising.

In a Facebook post, Miriam Mwanawasa claimed that Dr. Rajan Mahtani wanted to inherit the farmland owned by the Mwanawasa family at the Masaiti District. However, there was no justification, proof or evidence to the post. However, the nature of the post was extremely serious and as a result, it started making rounds at the internet. As a result, Dr. Rajan Lekhraj Mahtani decided to take action against this unethical post.

A press statement was released by Dr. Rajan Mahtani for clarifying the allegations. In this press release, Dr. Rajan Mahtani clarified that though he had a long-standing friendship with the late Ex-President of Zambia, he never made any such intentions or claims regarding taking over the farmland. At the same time, Dr. Mahtani highlighted the fact that the post by Miriam Mwanawasa was without any evidence to support her claims. As such, this post was considered as ludicrous and malicious and Dr. Mahtani also confirmed that he will be taking actions against this post.

Dr Rajan Lekhraj Mahtani

Dr. Rajan Mahtani Released Media Press Release For Curbing False Claims Against Him

Dr. Rajan Mahtani’s reputation is distinct from the rest of the Zambian businessmen due to his sheer transparent, ethical and straightforward business practices. As a result, unethical and scrupulous entities rarely mess with Dr. Mahtani or his businesses. Rumours and fake claims against Dr. Rajan Mahtani often die on their own due to lack of evidence or proof. However, Dr. Rajan Mahtani recently faced a unique case in which a fake claim against Dr. Rajan Mahtani started making rounds at the internet and significantly impacted the reputation and normal business proceedings, resulting in Dr. Rajan Mahtani taking the matters in his own hand.

A Facebook post was recently shared on the social media by Miriam Mwanawasa, the daughter of the late ex-President of Zambia Levy Mwanawasa. Dr. Rajan Mahtani had a long-standing, authentic and transparent friendship with the late Ex-President of Zambia and this friendship went way early even before Levy Mwanawasa became the Zambian President. As a result, the Facebook post shared by Miriam Mwanawasa resulted in significant media gossips. In this Facebook post, Miriam Mwanawasa claimed that Dr. Rajan Mahtani wanted to inherit the farmland at Masaiti district which is currently under the ownership of the Mwanawasa family. As a result of this ludicrous claim, Dr. Rajan Mahtani decided to take action in the form of a press release.

A press release statement was shared to the media on behalf of Dr. Rajan Lekhraj Mahtani. In this press statement, Dr. Rajan Mahtani stated that though he had maintained a transparent friendship with the late ex-President of Zambia, he never made any such claims, requests or pressurized the family. This claim was regarded as unethical and ludicrous considering the fact that Miriam Mwanawasa did not provide any evidence or proofs to support her claims. The very fact that this ludicrous message was posted on a social media site is confirmation that her intentions were only to malign the image of Dr. Rajan Mahtani. As such, legal actions will be taken against this post.