With the series of defamation stories, it has become a habit for Zambia Reports to continuously talk ill about the Mahtani Group of Companies, Chairman, Dr. Rajan Mahtani. As per their latest story, they are convicting Dr. Mahtani of hatching a conspiracy whereby he intends to take over an integral part of Zambia- The Nitrogen Chemicals of Zambia Ltd.
A news was circulated in their infamous news portal, Zambia Reports where it was mentioned that the Finance Bank of Zambia had intentionally issued a loan to NCZ with a view to set a debt trap for the borrower. When the borrower will not be able to repay, the whole NCZ would be passed on FBZ as it would force a foreclosure.
The matter which needs to be sorted out first is that Dr. Rajan Mahtani and Finance Bank Zambia are two distinct identities and they are not related to each other either financially or as an entity. Even if the loan facility had existed, the Finance Bank of Zambia would have entered this transaction under its own confidence and the benefit of the same is likely to be enjoyed by the bank only.
As a matter of fact, no loan facility has not forwarded by keeping NCZ as the collateral security. So no question of repayment arises. A simple assumption from the conspirators has made up this story. Dr. Rajan Mahtani vacated his position as the Chairman of FBZ in July 2015 and since, then he is not involved in making loan sanction decisions of the bank. Without any loans being forwarded to NCZ, Zambia Reports have already started to present an argument in respect of the transaction. The bottom line is, Zambia Reports has got nothing to do with the business of Finance Bank Zambia, it is simply obeying the orders of its masters, who want Dr. Rajan Mahtani to be defamed thoroughly.