Dr. Rajan Lekhraj Mahtani has established numerous successful businesses in Zambia. One of these businesses is Finsbury Investments Limited. The company is a premier financial organization and is known for several achievements and accolades over the years. Finsbury Investments recently registered a case at the Lusaka High Court claiming that the company’s shares at the Hotellier were unethically and unlawfully diluted. As a result of this unethical and manipulative act, Finsbury Investments suffered significant loss of financial as well as reputational loss.
As a result of these unethical manipulations, Finsbury Investments claimed that it was unable to participate in running of the Hotellier as well as was not able to receive any dividends associated with the hotel due to the increased debt to which the Plaintiff objected as it has reached an amount of USD 30 million. Finsbury Investment further stated that the company was forced to suspend its activities and projects it had started with the objective of social and economic development of the nation. Many of these projects were also critical for the sustainability and competitive advantage of the Finsbury Investments. For instance, construction were on for projects like LPHC (Lusaka Premier Health Clinic) which included developing state-of-the-art medical facility. Other projects included Baobab project which included constructing housing project as well as banking license with the objective of operating retail banking operations at the Democratic Republic of Congo.
At a result of the financial and reputational loss, Finsbury Investments faced significant loss of publicity as well as negative impact on its business sustainability after suffering from shareholder loss. As a result of the misdirected and unethical actions by the bank, Finsbury Investment suffered great loss and has been facing significant issues.
As a result, Dr. Mahtani owned Finsbury Investments has claimed that strict actions must be taken against the bank as well as their accomplice and justice to be served to Finsbury Investments.