Dr. Rajan Lekhraj Mahtani, a noted business tycoon in Zambia, recently hired international law firm Omnia Strategy for taking up a case against Atlas Mara. The company Atlas Mara is a banking and financial group that was established in the year 2013 by Bob Diamond with the purpose of becoming an African banking leader. To fulfil this objective, several acquisitions, takeovers and joint ventures were undertaken by Bob Diamond owned Atlas Mara. One of these acquisitions was with Dr. Rajan Mahtani owned Finance Bank Zambia. Bob Diamond’s company Atlas Mara went into a share sales & purchase agreement with Dr. Mahtani’s Finance Bank Zambia in the year 2013. This agreement included taking over majority shares of Finance Bank for a specific amount. However Dr. Rajan Mahtani has claimed that Atlas Mara breached the terms of agreement by not paying the amount it owes.
On top of that, representatives from Atlas Mara have claimed that the allegations against them are baseless and without merit. As such, Dr. Rajan Lekhraj Mahtani has hired noted international firm Omnia Strategy for taking their case forward. Omnia Strategy is noted for its founder Cherie Blair and Dr. Rajan Mahtani is confident that his case will not only successfully reach the London High Court, but will also be won easily.
The case from Dr. Rajan Mahtani comes at a time when Bob Diamond’s Atlas Mara is retreating its business from Africa after an unsuccessful run in the industry. While Atlas Mara is retreating its business from Africa by selling its business parts, Bob Diamond is planning another entry into Zambian stare with billions of Space listing funds, something to ponder upon.
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