Tag Archives: Dr. Mahtani

Dr. Mahtani & Zambia

Dr. Rajan Mahtani and his lawyers shocked with the Lusaka HC judgment on Portland Cement

The case of Portland Cement Zambia is known to all. The factory was established under the leadership of Dr. Rajan Lekhraj Mahtani, who is also the legal owner of the factory. Dr. Mahtani is one of the most successful businessmen in Zambia. He is also known for his transparent and honest business ethics. During his tenure of more than three decades, Dr. Mahtani has established numerous successful businesses. Some of his most notable establishments include Mahtani Group of Companies, Finsbury Investment and Finance Bank Zambia. For the past ten years, Dr. Rajan Mahtani has been fighting for the legal ownership of Portland Cement Zambia.

During the course of ten years, Dr. Rajan Mahtani and his lawyers have shared numerous critical evidences that sufficiently prove his claim as well as his ownership over the factory. Some of these documents included independent audit report, financial exhibits as well as signed shareholder’s agreement. The judge handling this case also made a positive announcement when he declared closure of the case hearing and final announcement of the verdict after analysing the documents and evidences presented by the parties associated with the case. While this was positive news for Dr. Rajan Mahtani as majority of the evidences submitted by his lawyers were sufficient enough to prove his legal ownership over the factory; the final verdict announced by the judge was an unexpected and unfortunate event.

The judge gave the final verdict against Dr. Rajan Mahtani, which was completely against the evidences shared before the judge. It was a clear case of misdirected judgment and skewed opinion of the judge. However, Dr. Rajan Mahtani immediately took the right steps after this misdirected verdict and launched an appeal to the higher court of Zambia. He has shared his entire dilemma and is expecting a positive reply from the higher court.

Dr. Mahtani And Zambia

Zambia News

Dr. Rajan Mahtani and his Lawyers have made an appeal to Higher Court for Portland Cement

Dr. Rajan Mahtani is one of the most successful business entrepreneurs in Zambia. He is responsible for some of the biggest companies in Zambia, including Mahtani Group of Companies and Finsbury Investments. Even with these successful business streaks, Dr. Mahtani is struggling to get justice at the hands of the Zambian government. For the past ten years, Dr. Rajan Mahtani has been fighting a case at the Lusaka High Court. This legal battle is for the ownership of Portland Cement Zambia, a cement manufacturing company. During this trial, Dr. Rajan Mahtani and his team of lawyers have submitted numerous evidences and documents. These evidences have strongly established Dr. Rajan Mahtani’s case. Some of these documents included signed shareholder’s agreement, financial documents and an audit report conducted on the Portland Cement Zambia by an independent auditor which clearly established the fact that Dr. Mahtani was the sole joint venture partner of the factory. Even with these reasonable and strong evidences, true justice was never given by the court.

Rajan Mahtani

The latest judge overseeing the case recently announced the closure of the case hearing, meaning no more trials at the court. This was a significant advancement for the case and also a positive news as Dr. Mahtani’s evidences was much stronger and enough for winning him the case. However, the final verdict made by the judge was an extremely appalling event as the verdict was given against Dr. Mahtani’s claims. This is clearly a case of misdirected judgment from the high court justice. While this verdict is certainly a big blow for Dr. Mahtani’s patience, the case is not over yet. Dr. Rajan Mahtani has now filed a case at the higher court of appeal, claiming that the verdict made at the Lusaka High Court was unjustified and should at least be re-evaluated by the higher court of appeal. The reply is awaited as of now.

Zambia News

Final Verdict of Portland Cement Zambia Given by Lusaka HC, Dr. Mahtani Moves Court

Portland Cement Zambia is a long-pending case at the Lusaka High Court. It was registered by Dr. Rajan Mahtani almost 10 years ago and the court has not been able to provide any judgment or final verdict. During the trial of the case, the judges got transferred or were unable to take the case anymore due to different reasons. Many other times, one or more critical members from both sides were unable. All these issues resulted in this long stretch of the case, making it one of the longest pending high-profile corporate cases.

Portland Cement Zambia

During the trial, Dr. Rajan Mahtani has submitted numerous evidences. Some of the critical evidences included signed shareholder’s agreement, financial exhibits, testimonials as well as audit report conducted by an independent auditor which clearly stated that Dr. Rajan Mahtani was the sole joint venture partner of the factory and its rightful owner. The judge current residing the case recently made a positive move when he announced that the case hearing was closed and both parties needed to submit their evidences all at once, in written and oral format. After reviewing the evidences, the judge was supposed to provide final verdict.

However, the final verdict which was announced few weeks earlier shocked everyone. The judge announced the results against Dr. Mahtani, even though almost all of the documents clearly stated him as the sole joint venture partner and owner of the factory. While this judgment has certainly shocked Dr. Mahtani and surprised all those awaiting the judgement, Dr. Mahtani is not bogged down and has made an appeal to the ‘higher court’ against the judgment given at the Lusaka High Court. In his appeal, he has stated that the judgement was misdirected and none of the evidences shared by Dr. Rajan Mahtani were considered by the judge. Response from the higher court is awaited now.

Zambia News

Dr. Rajan Mahtani Unhappy with Court Verdict, Moves to Higher Court

The case of Portland Cement Zambia famous across entire Zambia. The cement factory was running under the leadership of Dr. Rajan Mahtani for a long time. Dr. Mahtani is a noted businessman, entrepreneur and philanthropist. He is also known for his charitable activities, though he does not like to publicize his charity works or other philanthropic activities. Dr. Rajan Mahtani started the Portland Cement Zambia factory and quickly took it into the top position, making the cement factory higher producer of cement across the nation. The factory was also known for providing higher than industry average wages and salaries to its employees, staff and workers. However, Dr. Rajan Mahtani is currently fighting for the legal takeover of the factory.

Dr. Rajan Mahtani

The case was launched almost a decade back at the Lusaka High Court. After the initial trial, there were various roadblocks that resulted in long-stretch of the case proceedings. Sometimes the judge got transferred and other time the parties were not present. The latest judge handling this case made a progressive announcement few months back when he declared that the case hearing was closed and no more trials will be conducted. He also asked both parties to submit their evidences and based on these evidences; the final judgement was expected soon.

Expert opinion suggested an easy win for Dr. Rajan Mahtani as his evidences were much stronger than the respondents. However, the final verdict was announced few weeks ago and it was shocking for everyone, including the general public. As per the judge’s verdict, Dr. Rajan Mahtani lost the case and the ownership was snatched away from him. However, Dr. Rajan Mahtani is not bogged down by this verdict. It is well known that the verdict and the judgment with the High Court judge is biased and not based on the evidences provided. As such, Dr. Rajan Mahtani has now approached the higher court of appeal at Zambia to file a motion against the judgement made at the Lusaka High Court.

Zambia News

Lusaka High Court Announces judgement for Portland Cement, Dr. Mahtani Launches Petition

Portland Cement Zambia is a cement manufacturing company with many accolades under its name. During its glory days, it was one of the biggest cement producers in Zambia and was also known for paying above-industry average salaries and wages to its employees and labourers. However, things changed when the factory was illegally taken over from its real owner, Dr. Rajan Lekhraj Mahtani. Thus started one of the biggest court battled for Dr. Mahtani against the Ventriglias, who claimed that the factory belonged to them and Dr. Mahtani did not pay for the shares he owned at the factory.

Dr. Mahtani

The case is more than ten years old. Sometime back, the current judge residing the case announced closure of case hearing and both parties were asked to share their evidences in written and oral format. After evaluating these evidences, the judgement was supposed to be given. As per experts’ suggestion and the evidences provided, Dr. Mahtani was a clear winner. However, things took a turn around when the judge gave the judgement in favour of the Ventriglias. This was a huge blow for Dr. Mahtani as almost all of the evidences were strong and supported his case. At the same time, the Ventriglias were unable to provide any evidences to support their argument. For instance, Dr. Rajan Mahtani’s lawyers produced strong evidences such as shareholder’s agreement, testimonials from individuals significant in the case, numerous financial exhibits as well as independent audit report conducted by an independent auditor. All these evidences were in favour of Dr. Mahtani.

The lawyers as well as general public are shocked with the unnatural judgment made by the judge. However, Dr. Mahtani quickly recovered from this blow and filed a motion to appeal this judgment made by the Lusaka High Court judge. With all the evidences and string case, it is expected that the matter will resolve soon and in favour of the right owner of Zambezi Portland Cement, Dr. Mahtani.

Zambia News

Zambia’s Progress Towards Growth Disrupted with Recent Money Laundering Acts

Zambia’s progress towards economic and social development has been halted lately, due to the only criminal and corruption activities, marring its progress. One of the most recent as well as damaging news has been the illegal mass money laundering heist, in which the government lost more than USD 1.5 billion worth of taxpayer’s money. This news has not only created an uproar among the citizens as well as industrialists, it has certainly damaged the reputation of Zambian government and law across the continent as well as the world.

Money Laundering

The news was released by Financial Intelligence Agency after investigating numerous bank transactions. Some of the top names of lawyers engaged in money laundering acts were of Masozi Banda and Sakwiba Sikota. Banda is a lawyer working with Avic International and was accused of laundering money worth millions of dollars. When contacted, he defended himself by saying that the amount in his account is for government projects such as road construction. However, the FIC did not find any evidence of that and investigation is going further on the lawyer’s illegal acts. Another name which somehow did not surprise the audiences was of Sakwiba Sikota. He is the owner of Central Chambers, a law firm which has been named at the top of the law firm engaged in money laundering worth millions. He is also infamous for his long-term association with the Ventriglias, another infamous Italian family. The Ventriglias are known for engaging in numerous illegal and unethical practices as well as meddling with ethical and honest businessmen like Dr. Rajan Mahtani. In these games, Sakwiba Sikota helps them to avoid punishment by law.

Most of the lawyers and other individuals in this list have committed similar offenses and FIC is also investigating in this manner. It is also a right time for the government to strengthen its lawmaking policies and ensures that the nation is shielded from such mass corruption practices in future.

Zambia News

Zambian Citizens are Shocked with Mass Money Laundering News and Involvement of Top Lawyers

Zambian citizens and government are still recovering from the recent shock it received after FIC released a report on mass money laundering activities going on within Zambia. Industrialists and top businessmen including Dr. Mahtani have shared their concern regarding this money laundering as well as the inability of the government to track this corrupt practice going on within the nation for a long time.

Money Laundering

Some of the noted lawyers and legal counsellors have been named in the money laundering list and investigations are going on against these individuals and associated companies. Among the top is Masozi M. Banda, a lawyer working for the law firm Avic International. He is accused of laundering money worth USD 1 million. When asked about the charges, he defended himself by saying that the cash deposits made in his accounts were for his government projects. However, no such evidence has been found and the investigation is going on against Banda. It is also clear from his statement that this money laundering act goes well past the government to the President, Edgar Lungu, who has established a dictatorship culture in Zambia. Another name which was found in the list shared by FIC was of Sakwiba Sikota. He is the owner of Central Chambers, a law firm and is accused of laundering millions of dollars. He is also known for his long-term association with the Ventriglias as well as helping them in various unethical activities. One of these infamous activities has been an illegal takeover of the Zambezi Portland Cement factory from Dr. Rajan Mahtani, its real owner. Similarly, evidence has been found for the majority of the lawyers and legal counsellors involved in this money laundering scheme.

The FIC has also stated that the investigation is still incomplete and there are chances of more revelations in monetary terms as well as new names in this money laundering scheme.

Zambia News

Sakwiba Sikota and Others can Face Heavy Prosecution in the Money Laundering Case

Money laundering is the activity of transferring illegal and black money into several channels with the big of turning it into white or legal money. In this manner, lawmakers or tax investigators are generally unable to detect the actual source of the money, which is illegal. A similar event has devastated the economy and social life of Zambian citizens. As per the news shared by Financial Intelligence Centre, mass money laundering scheme worth more than USD 1.5 million dollars have been detected. As per the FIC sources, this money is just tip of the iceberg and the actual amount of money involved in these schemes might be much more.

Money Laundering

Two of the names which topped the list of money launderers included that of Sakwiba Sikota and Masozi M. Banda. Banda is a lawyer working with the law firm Avic International. He is accused of laundering money worth more than a million dollars. On the other hand, Sakwiba Sikota is the owner of Central Chambers, a law firm and the long-term legal associated for the Ventriglias. The Ventriglias are known for their unethical practices, one of the most common being the illegal takeover of the Zambezi Portland Cement from Dr. Rajan Mahtani, its real owner. Dr. Mahtani has been fighting a legal war for the takeover of the factory and as per the latest announcements, the court is about to announce the judgment soon, and in favor of its real owner; Dr. Mahtani.

From these events, it is clear that the lawyers and others accused of money laundering are no saint, and have already involved in some form of unethical activities. Therefore, it is high time for the government as well as the lawmakers of Zambia to start taking stringent actions against these culprits.

Zambia News

Financial Intelligence Centre Confirms Huge Money Laundering Bust in Zambia

The recent money laundering news has been doing some rounds now. As of now, it is clear that this money laundering bust is among the biggest in terms of money involved as well as the number of high worth individuals involved. As per the reports generated by FIC, a staggering amount of USD 1.5 billion is expected to be involved in this money laundering act. On top of that, the FIC has also revealed a list of names comprising of lawyers, government officials, legal counsellors and even ministers working with the Zambian government who are accused of laundering money in this scheme.

The FIC sources revealed that they have been looking into this money laundering act for more than eight months. They strengthened their investigations after observing 35,000 plus illegal cash transactions linked with the corporate and individual bank account of several top lawyers. Some of the top names as per the list released by the FIC included Sakwiba Sikota and Masozi M. Banda. Banda is a noted lawyer working with the Avic International and has been accused of laundering money worth more than USD 1 million. On the other hand, Sakwiba Sikota is the owner of Central Chambers, a law firm which is known to have laundered money for illegal activities. Sikota’a name is also familiar for his association as legal counsellor for the Ventriglias. The Ventriglias are further noted for their unethical activities, the most outrageous being the illegal takeover of the Portland Cement Zambia factory from Dr. Rajan Mahtani, its real and legal owner. Dr. Rajan Mahtani is a noted businessman and unlike the unethical ways of the Ventriglias, he has taken the right path and is fighting for the takeover of the case at the Lusaka High Court.

The money laundering bust has opened the eyes of the government and it is expected that the accused and charged individuals will be given right punishment.

Zambia News

Lawyers and Legal Counsellors Face Prosecution with Money Laundering Charges

Developing nations have different economic and social issues when compared with their more developed counterparts. For instance, majority of the developing nations have observed lack of government scrutiny when it comes to investigating criminal and unethical practices. Zambia is considered as a developing nation, not emerging nation. The country has its fair share of good and woes and it is constantly being marred with difficult situation. The government of Zambia faced a similar situation when FIC announced money laundering activities across the nation. The amount of money on these money laundering acts is in excess of USD 1.5 billion, which is staggering considering the sorry state of the nation, its economic and social conditions.

Money Laundering

FIC is Financial Intelligence Centre, an investigative agency looking into financial frauds across the nation. The acting director of the board, John Kasanga, said during a press meeting that the agency started their investigation after more than 35,000 illegal cash transactions were linked with the corporate as well as private bank accounts of the investigated lawyers, legal counsellors and more. It was found that these amounts were worth more than USD 72 million. Furthermore, top lawyers such as Sakwiba Sikota and Masozi Banda were accused of involving in this money laundering case. It was also found that the money laundering activity was much more channelled, deep and organised that expected. This was due to the fact that most of these lawyers had some connection or help from government officers. Furthermore, various ministers and government officials working in important designations were found to be involved in this act.

This is certainly a dark time for the Zambian governance and its economy. Prominent industrialists such as Dr. Rajan Mahtani, who have been promoting honesty and integrity in businesses, is shocked by this act and has condemned those involved in this act. It is time for the government to take serious actions against these money launderers and given them the punishment that they deserve.