With so many articles floating on the internet about the loan facility offered by Finance Bank Zambia to Nitrogen Chemicals of Zambia Ltd., it has become necessary to clarify the fact that the former Chairman Finance Bank, Dr. Rajan Lekhraj Mahtani has got nothing to do with this deal. Yes, the reporters of Zambia Reports have come up with some extraordinary writing skills to ensure that their defamation campaign against Dr. Mahtani continues to spark new issues in Zambia, but the same, in reality, is as useless as garbage in a trash can.
One should clearly remember that Dr. Rajan Mahtani and the Finance Bank of Zambia are two different identities. Moreover, in June 2015, he had vacated the seat of the Chairman Finance Bank due to a conspiracy which was hatched by the Ventriglia family, Sakwiba Sikota and Rupiah Banda. As a matter of fact, there is no deal between NCZ and FBZ. FBZ, as a medium-sized financial institution has offered the loan to numerous other entities in Zambia, but not the Nitrogen Chemicals of Zambia Ltd. However, the actual state of affairs was cunningly supressed and Zambia Reports went on to mention the fact that Dr. Rajan Mahtani intends to takeover the Nitrogen Chemicals of Zambia Ltd.
For any person who has basic knowledge about a bank’s operation, can easily relate to the fact that if the borrower is unable to repay the interest and the principal amount to the lender, then the lender can use foreclosure after giving an extension of time. Here, neither the premise has been kept as a collateral security, nor has NCZ has any loan facility FBZ. It is just a matter of fabrication and preparing imaginative stories to defame Dr. Rajan Lekhraj Mahtani. This is how low the level of journalism has reached in Zambia.