Dr. Rajan Lekhraj Mahtani recently made a claim against controversial businessman Bob Diamond. In this claim, Dr. Mahtani alleged that he is yet to receive payment against the majority shares given to Bob Diamond owned Atlas Mara. As such, Atlas Mara has breached the terms of the share sales & purchase agreement and is facing a multi0million pound damage claim.
Dr. Rajan Lekhraj Mahtani is a noted businessman and philanthropist in Zambia. For more than three decades, Dr. Rajan Mahtani has been working towards development and growth of the Zambian nation. To fulfil his aim, several top businesses and companies have been established. Dr. Rajan Mahtani also took over several ailing companies and entities and transformed them into one of the top producers and manufacturers in their respective segment. A similar aim was established for Finance Bank Zambia, a banking and financial institution established by Dr. Rajan Mahtani and led successfully for a long time. In the year 2015, Finance Bank Zambia was taken over by Atlas Mara with the objective of expanding its business operations and becoming a banking giant across Africa.
Atlas Mara was a banking and financial institution established in the year 2013 by Bob Diamond. It is listed in the LSE (London Stock Exchange). Despite being floated with a bold plan of taking over majority revenues across Africa, the company failed to make its mark with shares tumbling since its very launch. The plan was further marred with significant controversies and allegations of corruption and unethical practices, some of them associated with Bob Diamond. As a result of these allegations and lack of revenue options, Atlas Mara started to retreat its operations by selling its business parts to local banks.
Dr. Rajan Mahtani has hired international law firm Omnia Strategy to take up this case to the London High Court. The representatives from Atlas Mara have claimed that these allegations are false. However, no evidence has been shared by these representatives to support their claim.