Dr. Rajan Lekhraj Mahtani is one of the most famous businessmen in Zambia, with several business ventures across foreign locations such as the United Kingdom. Dr. Rajan Mahtani is respected for not only his philanthropic and charitable contributions towards the Zambian society, but also for his contributions towards enhancing the economic and social prosperity of the Zambian nation with strategies like bringing FDIs (foreign direct investments) and international contributions to Zambian nation. However, the noted businessman continuously faces challenges due to the lack of legal standards and widespread corruption stemming across institutions and organizations.
A similar challenge is being presented to Dr. Rajan Mahtani regarding one of his companies, Finance Bank Zambia. According to the claim established by Dr. Rajan Mahtani, a share sales agreement was established between Bob Diamond’s Atlas Mara and Dr. Mahtani in which his venture Finance Bank Zambia was taken over by Atlas Mara in the year 2015. The company Atlas Mara was a bold scheme from infamous business tycoon Bob Diamond, established in the year 2013 with the objective of becoming a banking giant in Africa. However, this plan did not see the light of the day as the Atlas Mara shares started to collapse soon after its launch and Bob Diamond decided to retreat the company by selling the business parts to one Access Bank.
Despite this, Bob Diamond’s Atlas Mara breached the agreement terms established with Dr. Mahtani wherein Dr. Mahtani is yet to receive the payment against share sales of the FBZ. In a bid to claim his equity, Dr. Mahtani hired Cherie Blair famed Omnia Strategy and has pursued the case to the London High Court. Apart from Dr. Mahtani, there are several other investors who have put up similar claims against Bob Diamond, damages worth more than 100 million pounds. Bob Diamond previously made news when he was named in the Libor-Rigging scandal in the year 2012 which resulted in his exit from the Barclay’s Bank as its CEO.
Dr. Rajan Mahtani hopes to get justice soon.