Dr. Rajan Mahtani, who recently thrashed some unscrupulous people by proving that fake emails were being used in his name to contact other eminent personalities in Zambia, is again in the news with some fresh rumors. According to an allegation, Rajan Mahtani is said to be owning the title deeds of two state newspaper in Zambia, namely, the Zambia Daily Mail and the Times of Zambia.
Sometime back, the two state newspapers had approached the Finance Bank of Zambia Ltd., with a view to avail loan for the purpose of meeting their requirements. The Times of Zambia expressively stated that it was in need of funds because it wanted to pay the salaries of its employees. Whereas on the other hand, the Zambia Daily Mail wanted to purchase new computers for its operations. As a collateral security, both the banks used their title deeds.
After the maturity date for repayment and extended period of repayment lapsed, the Finance Bank of Zambia Ltd., was forced to acquire the title deeds of the two state newspapers. Sadly, the present situation is being depicted in such a manner where Rajan Mahtani is being shown as a culprit for acquiring a state newspaper.
Sources suggest that it is common for banks to seize the collateral security of the borrower upon non-repayment. An interesting fact about this allegation is that it doesn’t mentions the name of the bank who acquired the title deed, that is, the Finance Bank of Zambia Ltd. Rather it targets its Chairperson, Dr. Rajan Mahtani. To make things clear for everyone, it should be known that the Finance Bank of Zambia Ltd., and Dr. Rajan Mahtani are two different identities. The private property of Dr. Mahtani is not the property of the bank and vice-versa. Hence, it can be regarded that conspirators are continuously looking forward to throw random allegation one after the other with an objective to defame Rajan Mahtani.
Sometime back, the two state newspapers had approached the Finance Bank of Zambia Ltd., with a view to avail loan for the purpose of meeting their requirements. The Times of Zambia expressively stated that it was in need of funds because it wanted to pay the salaries of its employees. Whereas on the other hand, the Zambia Daily Mail wanted to purchase new computers for its operations. As a collateral security, both the banks used their title deeds.
After the maturity date for repayment and extended period of repayment lapsed, the Finance Bank of Zambia Ltd., was forced to acquire the title deeds of the two state newspapers. Sadly, the present situation is being depicted in such a manner where Rajan Mahtani is being shown as a culprit for acquiring a state newspaper.
Sources suggest that it is common for banks to seize the collateral security of the borrower upon non-repayment. An interesting fact about this allegation is that it doesn’t mentions the name of the bank who acquired the title deed, that is, the Finance Bank of Zambia Ltd. Rather it targets its Chairperson, Dr. Rajan Mahtani. To make things clear for everyone, it should be known that the Finance Bank of Zambia Ltd., and Dr. Rajan Mahtani are two different identities. The private property of Dr. Mahtani is not the property of the bank and vice-versa. Hence, it can be regarded that conspirators are continuously looking forward to throw random allegation one after the other with an objective to defame Rajan Mahtani.