Dr. Rajan Lekhraj Mahtani, a noted business tycoon from Zambia, recently established a claim against controversial businessman Bob Diamond and his company Atlas Mara. According to the claim established by Dr. Rajan Mahtani, Atlas Mara breached the terms of agreement established with Dr. Rajan Mahtani. Atlas Mara is a banking group which was created by Bob Diamond, controversial businessman. The company was established in the year 2013 with the objective of becoming a corporate giant in Africa and takeover the financial sector. It was also a way for Bob Diamond to enter the Zambian state again. Earlier in the year 2012, Bob Diamond stepped down from the position of CEO (Chief Executive Officer) of Barclays following the Libor-rigging scandal. Atlas Mara is listed at the LSE (London Stock Exchange) and immediately after its launch in Africa, it started several acquisitions and takeovers. In the year 2015, Dr. Rajan Mahtani owned Finance Bank Zambia entered into contract with Bob Diamond’s Atlas Mara via an original share & sales agreement. Fast forward five years later, Dr. Mahtani claims that Atlas Mara breached the terms of the agreement and is yet to make the payment against the majority shares of Finance Bank Zambia.
Despite a grand launch, Bob Diamond’s Atlas Mara faced significant controversies and challenges resulting in steep decline of its shares. Within a few years of its launch, Bob Diamond decided to retreat the business by selling its business parts to local banks such as Access Bank. Even though representatives from Atlas Mara have claimed that the allegations are without merit, it is now known that there are several other investors who have made similar claims as Dr. Rajan Mahtani and these claims have increased to the tune of 100 million pounds.
Dr. Rajan Lekhraj Mahtani has approached Cherie’s Blair’s international law agency Omnia Strategy which is currently preparing the case to take to the London High Court. Dr. Rajan Mahtani is confident that the justice will be quick and swift at the court.
