Dr. Rajan Lekhraj Mahtani Owned Finsbury Investments Sues ESTD Bank In Zambia

Dr. Rajan Lekhraj Mahtani is one of the biggest names in Zambia when it comes to successful businesses. He is the owner of several successful businesses in Zambia such as Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. His companies are known for maintaining transparency and ethical business practices. As of late, Finsbury Investments came into news for suing probably the greatest bank in Zambia. This bank was ESATD (Eastern and Southern African Trade and Development) Bank in Zambia. Finsbury Investments enrolled a grievance at the Lusaka High Court against the bank, claiming that the bank planned against Finsbury Investments which brought about critical harms because of illegitimate surmising and expulsion of Finsbury Investments as a significant investor in the Hotelier Limited. 

According to the claim recorded by Finsbury Investments, The EASTD bank permitted the organization Ody's Limited to change the offer capital related with the Radisson hotel. Simultaneously, new issues of shares were created which negated the first offer promise to the Finsbury Investments. Moreover, as indicated by Finsbury Investments it was discovered that the bank with no application just as without advising Finsbury Investments which is an offended party for this situation. In this application letter, the bank unfairly asserted that Finsbury Investments parted with their shareholdings at Radisson hotel to Ody's and the offers were conveyed to the relatives of the organization proprietor. 

Because of this unlawful and improper shareholding weakening, Finsbury Investments couldn't get injunctive help as it was not, at this point the underwriter or significant investor of the Hotelier and couldn't get the advantages. This has brought about huge monetary and reputational misfortune for Finsbury Investments with suspension of a few ventures and development projects just as loss of future possibilities because of absence of capital.

Dr. Rajan Mahtani Replies Back To Unethical And Fake Social Media Post With Press Release

One of the major challenges for being an ethical and honest businessman in warding-off unethical and baseless rumours. Dr. Rajan Mahtani recently faced one such rumour which was extremely controversial and surprising considering the person who posted it. A Facebook Post was shared by Miriam Mwanawasa, daughter of the late Ex-President of Zambia, Levy Mwanawasa. 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. 

When Dr. Rajan Mahtani was made aware of this controversial post, he decided to take stringent actions. The first step was releasing a press statement to clarify the rumour and bring people of Zambia with the truth. In this press release, Dr. Rajan Mahtani clarified that through he has a long-standing and transparent friendship with the late Ex-President of Zambia, he never made any such intentions and never shared such thoughts with any member of the Mwanawasa family. Dr. Rajan Mahtani also highlighted the fact that the Facebook Post shared by Miriam Mwanawasa was without any evidence or proof to support her claim. As a result, this post was considered to be ludicrous, malicious and unethical with the intention of bringing down the reputation of an ethical and transparent businessman. Dr. Rajan Mahtani further stated that he was upset to known that his friendship with the late Ex-President of Zambia would be used for personal motivations to such an extent. As a result, Dr. Rajan Mahtani further stated in his press statement that he will be taking stringent actions against this unethical Facebook post.