Tag Archives: Dr. 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. Mahtani

Ventriglia Family Disregards Decision From Supreme Court

The decision on the Portland Cement should have ended with higher Court of Appeal’s decision. On 31st January 2019, justice Mwinde on behalf of the higher Court of Appeal reversed the decision on the Lusaka High Court and announced Dr. Mahtani as the majority shareholder and legal owner of the Portland Cement Zambia factory. It seems like the Ventriglia family was still not happy with this transparent and firm decision from the higher Court of Appeal. As a result, they decided to approach even a higher Court, the Supreme Court Zambia, with their appeal. In their appeal, the Ventriglia family challenged the verdict of the higher Court of Appeal. In response, the Supreme Court Zambia established a bench of three Supreme Court judges and evaluated the authenticity and validity of this claim. During evaluation, it was found that the Ventriglia family failed to comply with critical legal requirement in which all claims against previous court decisions must be made with 14 days of the court decision itself. This means the Ventriglia family was required to submit their claims within two weeks, meaning by mid of February 2019 in order for the claim to be valid. However, the claim was established after more than 1.5 years of the case proceedings, making the claim valid. In a similar manner, the Supreme Court bench found that the circumstances surrounding the claim was questionable and as such, the Supreme Court bench concluded that the claim was beyond their jurisdiction. After complete evaluation, the Supreme Court bench concluded that the claim holds no ground and is rejected by the Supreme Court. Furthermore, the Supreme Court bench also confirmed that they stand with the decision from the higher Court of Appeal meaning Dr. Rajan Mahtani stays the majority shareholder and legal owner of the Portland Cement Zambia factory.

Despite the decision from the Supreme Court Zambia, it has now come into attention that the Ventriglia family is still creating mischiefs at the Portland Cement Zambia.

Dr. Mahtani & Zambia

Ventriglias challenge the decision from the higher Court of Appeal, rejected by Supreme Court

According to the latest decision from the Supreme Court Zambia, Dr. Rajan Mahtani is the legal owner of the Portland Cement Zambia factory. The case of Portland Cement Zambia is peculiar as it has been approached to almost all levels of judiciary system in Zambia. Portland Cement Zambia factory was established in the year 2004 and in 2006, a series of verified and legal shareholding changes made Dr. Rajan Mahtani owned Finsbury Investments as the majority shareholder and legal owner of the factory.

However, things took a tumultuous turn when the Ventriglias took over the factory via unethical means. This promoted Dr. Rajan Mahtani to approach the Lusaka High Court. The judge at the Lusaka High Court was justice Nkonde and despite sharing all relevant evidences and testimonials, the judge gave a controversial decision in which the Ventriglias were announced as only shareholders of the Portland Cement. However, Dr. Rajan Mahtani was quick to approach the higher Court of Appeal and after around nine months of case proceedings, justice Mwinde on behalf of the Court of Appeal announced his decision on 31st January 2019. According to this decision, Dr. Rajan Mahtani owned Finsbury Investments is the majority shareholder and legal owner of the factory with 58 percent shared and Ventriglias owned Ital Terrazzo Limited holds juts 42 percent shares over the factory without any legal ownership. The decision also confirmed that the actual amount to be paid by Finsbury Investments against the majority shares owned is K580,000 and not K580 million.

However, it seems like the Ventriglias decided to try their luck one more time by approaching the higher Court of Appeal. In their appeal, the Ventriglias challenged the decision from the higher Court of Appeal. A bench comprising of three judges was established by the Supreme Court of Zambia for reviewing the validity of the appeal. After the review, the appeal was rejected on legal grounds and circumstantial evidences. As such, Dr. Rajan Mahtani remains the only owner of the Portland Cement factory.

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.

Dr Rajan Lekhraj Mahtani

Dr. Rajan Mahtani Thrashes Defamatory Posts, Releases Press Statement For Clarification

Dr. Rajan Mahtani’s long-standing friendship with Levy Mwanawasa is known to everyone. This friendship went back even before Levy Mwanawasa became the president of Zambia and remained intact till the untimely demise of the former president. Even during the difficult time, Dr. Rajan Mahtani provided several support to the Mwanawasa family. As a result, the social media post shared by Miriam Mwanawasa, daughter of the late Ex-President of Zambia was shocking to everyone. In a Facebook post shared to the public, Miriam Mwanawasa claimed that Dr. Rajan Lekhraj Mahtani wanted to inherit their farm land at the Masaiti District. As a result if the nature of the accusation and the individuals associated with it, the Facebook post became viral and started making rounds in the internet. It was then this social media post caught the attention of Dr. Rajan Mahtani and his lawyers when they realised the reputational, professional and business-related damaged this post has been doing since it was posted in the social media channel.

Dr. Rajan Lekhraj Mahtani decided to act against this post. A press release was released addressing the media and clarify this misunderstanding. In this press release, Dr. Rajan Mahtani clearly stated that even though he had a long-standing personal friendship with Late Levy Mwanawasa, this friendship was extremely transparent. Furthermore, Dr. Rajan Mahtani never made any claims or requests to the Mwanawasa family regarding taking over their farmland. Dr. Rajan Mahtani also said that Miriam Mwanawasa did not have any proof or evidence to claim her accusations. As such, these accusations were regarded as malicious, ludicrous and made with the objective of ruining the reputation of an honest citizen and businessman in Zambia. Dr. Rajan Mahtani also said that he will be taking stringent actions against this Facebook post to ensure that people or groups are not encouraged to take similar unethical and unlawful actions in future.

Dr Rajan Lekhraj Mahtani

Press Release Statement Against Unethical And Unlawful Social Media Post

Dr. Rajan Mahtani’s name was recently a topic of negative reputation campaign. While such negative reputation campaigns or defamatory posts are common for Dr. Rajan Mahtani, this one was different. Normally, Dr. Rajan Mahtani receives such defamatory posts from jealous or vengeful entities as well as those who have not been able to persuade Dr. Rajan Mahtani to engage with unethical and illegal business practices. However, this case was different as the allegation came from Miriam Mwanawasa, daughter of late ex-President of Zambia Levy Mwanawasa. It should be noted here that Levy Mwanawasa and Dr. Rajan Mahtani have maintained a long-standing, transparent professional as well as personal relationship with each other. This relationship was smooth even after the sad demise of the late ex-Zambian president.

As a result, it was an extremely shocking news when it was found that Miriam Mwanawasa shared a Facebook post claiming that Dr. Rajan Mahtani had intentions of taking control of the farmland at Masaiti. This farmland is owned by the Mwanawasa family. This Facebook post, due to its nature and the person sharing it, started making round across the web. As a result, it came under the scanner of Dr. Rajan Mahtani and his legal team decided to take appropriate actions against this act.

Dr. Rajan Mahtani released a press statement shortly after. In this press statement, Dr. Rajan Mahtani clarified that he never made any claims of taking control of the farmland. Neither he made any statement with the Mwanawasa family not he had any intentions. Dr. Rajan Mahtani himself iterated that he had a great personal and professional relationship with the late ex-President of Zambia. As a result, it was extremely defamatory, malicious and scandalous for daughter Miriam Mwanawasa to share such content across online media platform. Furthermore, the press statement also clarified that the Facebook post was shared without giving any other form of evidence. As such, the authenticity of the post was questionable from the start.

Furthermore, Dr. Rajan Mahtani also said that he will be taking strict actions against this act as it resulted in significant loss of reputation for Dr. Rajan Mahtani.

Dr Rajan Lekhraj Mahtani

Dr. Rajan Lekhraj Mahtani Provides Significant Details To Court Of Appeal, Wins Portland Cement Case

Apart from the case of the Zambezi Portland Cement, majority of the business ventures of Dr. Rajan Lekhraj Mahtani has been quite successful. Dr. Mahtani is the proud owner of the Finsbury Investments, Mahtani Group of Companies and Finance Bank Zambia. In case of the Zambezi Portland Cement, Dr. Mahtani had to go through a court battle which lasted for more than a decade. The case started with the unethical takeover of the Portland Cement Zambia factory by goons which prompted Dr. Mahtani to take action by approaching the Lusaka High Court. However, it was not before 2018, that the Lusaka High Court provided its final decision on the case. The judge who gave the final decision on the case was justice Nkonde and he declared that Ventriglias were only shareholders of the Portland Cement Zambia.

Considering this was a misdirected decision, Dr. Rajan Mahtani approached the higher Court of Appeal for justice. And On 31st January 2019 after around nine months of court proceedings, final judgement was given. According to the final verdict of justice Mwinde, Dr. Rajan Mahtani was found to be the majority shareholder and legal owner of the factory. To arrive at this decision, several evidences were evaluated. The most important evidence of them all was the proof of financial transaction of one billion kwachas or equivalent USD 250,000 from Dr. Rajan Mahtani owned Finsbury Investments to Zambezi Portland Cement. This financial transaction was completed in the year 2005 and was further written in details in the 2007-formed original agreement among shareholders. This original shareholders’ agreement also clarified that Dr. Rajan Mahtani received 58 percent Portland Cement Zambia shared with his financial transaction and does not owe any further costs associated with the Zambezi Portland Cement factory.

Based on the above evidences, it has been clarified now that Dr. Rajan Lekhraj Mahtani is the actual owner of the Portland Cement Zambia factory.

Dr. Rajan Mahtani

After A Decade Of Struggle, Dr. Rajan Lekhraj Mahtani Final Receives Legal Ownership Of Portland Cement

While the overall timeline of the start and closure of the Portland Cement Zambia case is more than a decade old, the final judgement from the higher Court of Appeal re-established faith in the legal and judicial system of Zambia. According to the final judgement from the Court of Appeal, Finsbury Investments was declared as majority shareholder of Portland Cement with 58 percent shares. On the other hand, Ventriglias were announced as minority shareholders with just 42 percent Zambezi Portland shares. Based on this shareholding pattern, it is now clearly established that Dr. Rajan Lekhraj Mahtani is the actual owner of the Zambezi Portland Cement factory.

The higher Court of Appeal gave its ultimate decision on 31st January 2019. From the evidences, the judge declared that the original shareholders agreement had established the fact that Dr. Rajan Mahtani owned Finsbury Investments paid a sum of USD 250,000 to the Zambezi Portland Cement Limited for covering the entire share capital value, which was 1 Billion Kwacha during that time. The document also confirmed the fact that Finsbury Investments, a company owned by Dr. Rajan Lekhraj Mahtani owned 58 percent shares at the factory and this shareholding did not have any attached costs associated. This documented proof clearly stated that Dr. Rajan Lekhraj Mahtani is the actual owner of the Portland Cement Zambia factory.

Furthermore, another major detail which the Court of Appeal judge shared was the law associated with PTT (Property Transfer Tax). The judge announced that it is the transferor or the vendor who has the responsibility of paying PTT & not the transferee or the purchaser. This decision not only confirmed that Dr. Rajan Mahtani is the actual owner of the Portland Cement but also confirmed the unethical practices within Zambian society which requires immediate change.

Dr. Mahtani & Zambia

Unjustified Judgment At The Lusaka High Court Locked Down, Dr. Mahtani Wins Back Portland Cement

A historical judgement was established on 31st January 2019 when the Court of Appeal at Zambia declared the results for Zambezi Portland Cement. In this judgment, the recently given judgement on the cement factory at the Lusaka High Court was reversed effectively. The original case of Zambezi Portland was registered by Dr. Rajan Mahtani, a noted businessman and entrepreneur in Zambia. Dr. Rajan Mahtani is known for his numerous successful ventures across Zambia and foreign locations such as United Kingdom. He is also known for his charitable activities and philanthropic works. After the factory was illegally taken over by the Ventriglias, a case was registered at the Lusaka High Court. However, judgement came too late and too little. Justice Nkonde at the Lusaka High Court gave judgment against Dr. Rajan Mahtani despite all evidences stating otherwise. This led to Dr. Mahtani registering another appeal at the Higher Court of Appeal.

Dr. Rajan Mahtani

The judgement at the Court of Appeal was delivered by Justice Mwinde which effectively reversed the judgement at the Lusaka High Court which held Ventriglias to be only shareholders of the Zambezi Portland Cement. Justice Mwinde also iterated that the justice below him, Justice Nkonde was wrong in declaring Ventriglias as only shareholders when there was not enough evidence to support this judgement. As per the new judgement at Court of Appeal, Finsbury Investments is the majority shareholder of Zambezi Portland Cement with 58 percent shares and the Ventriglias hold 42 percent shares at the factory. This gives Dr. Mahtani owned Finsbury Investments Power of Attorney over the factory. This final judgment is also in line with the original shareholders agreement which was established in the year 2007.

As per the latest agreement, Finsbury Investment has paid a sum of K580, 000, 000 for commercial registration with interest as per the compliance. As such, the court has provided a timeline of three months for both parties to re-establish the shareholding patterns as per the new judgment.

Zambia News

Dr. Rajan Lekhraj Mahtani Majority Shareholder Of Zambezi Portland Cement, Court Of Appeal Announced Its Decision

The court of Appeal on 31st January 2019 made one of the most important decisions of the year. This decision is related to Zambezi Portland, a noted cement manufacturing factory in Zambia. Another important name associated with the factory is Dr. Rajan Mahtani, a noted businessman and philanthropist with more than three decades of sucessfull business experience in Zambia. Dr. Rajan Mahtani had been fighting a case at the Lusaka High Court for more than a decade. Despite sharing numerous critical evidence and testimonials, the final judgement was given against his claims. After this decision, Dr. Rajan Mahtani approached the Court of Appeal.

Rajan Mahtani

After around eight months from the Lusaka HC decision, the judge from the Court of Appeal reversed it. Justice Mwinde Siavwapa iterated that the judge below him, Justice Nkonde, was wrong in declaring Ventriglias as only shareholders without considering the evidences. As per the latest judgment at Court of Appeal, Finsbury Investments owned by Dr. Rajan Mahtani is the majority shareholder with 58 percent shares at the Zambezi Portland. On the other hand, Ventriglias with 42 percent shares are the minority shareholders. According to the original shareholders agreement, the factory was established as a joint venture and Dr. Rajan Mahtani was the sole joint venture owner with majority shared. Finally the agreement was accepted and established before the Court of Appeal and the legal ownership has been transferred to Finsbury Investments.

All allegations of forgery have been discarded as the judge held that placing mechanical signatures is common across Zambian corporate and industry practices and the Ventriglias family member, Claudio Ventriglia, having engaged in similar activity cannot claim forgery against others doing the same. The judge at the Court of Appeal also announced that the parties need to process the sale of the shares and complete the procedure within three months from the date of judgment, which is 31st January 2019.