Dr. Rajan Mahtani Owned Finsbury Investments Claim Share Manipulation, Launch Complaint

Finsbury Investments is one of the premier organizations in Zambia. The company is owned by Dr. Rajan Lekhraj Mahtani, noted businessman, philanthropist as well  charity worker in Zambia. Finsbury Investments recently filed a compliant claiming that its shared at the Hotellier Limited trading as the Radisson Blue was manipulated in an unethical manner and its shareholding was removed, resulting in significant financial and reputational loss. In this complaint, Finsbury Investments alleged that the ESTD (Eastern and Southern Bank) allowed Ody’s to unethical and illegally modify the Hotellier share capital as well as issue new shares which were different from the shares pledged to Finsbury Investments. 



Finsbury Investments in their appeal, further stated that there was a wrongful dilution of their shares at the Hotellier which resulted in significant Financial and Reputational loss. It has been claimed that Ody’s unlawfully and unethically increased their share capital at the Hotellier with the support from the bank. New shares were issued to the family members of Ody’s. It was also found that Finsbury Investments was denied the critical injunctive relief from High Court based on grounds that it was no longer guarantor to facility issue from Bank to Hotllier. Furthermore, Finsbury Investments had to suspend numerous advanced projects like LPHC (Lusaka Premier Health Clinic) which included constructing a state-of-the-art medical facility, Baobab project which included constructing housing project, banking license for operating retail bank at DRC (Democratic Republic of Congo). As a result of the several financial loss as well as loss of business projects, Finsbury Investments also suffered negative publicity as well as negative impact on its overall business reputation, future competitiveness and sustainable advantage. 

Location: Zambia

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