Zambia is a developing nation and there are only a handful people who are working day and night to improve its conditions. One of them is Dr. Rajan Lekhraj Mahtani, owner of the Mahtani Group of Industries. He has been living in Zambia for many decades and considers Zambia as his motherland. He has built his empire in Zambia as well as other nations. Most of his organizations have improved the economic and social conditions of the people across various provinces. These organizations have provided employment and growth opportunities for many people. He is also responsible for bringing many foreign investments in Zambia, thereby improving the economic conditions of this nation. As a result, the people of Zambia love him and respect him and any conspiracy against him or his associations are looked down upon.
This is the reason why the case between Finance Bank Zambia and Simaata Simaata became national news. Simaata had earlier signed an agreement with the Finance Bank Zambia. For this, Simaata also received a good amount. However, he broke the agreement at numerous occasions. Simaata gave testimonials against Dr. Mahtani & Finance Bank across various courts. Even though these testimonials were his opinion and without any proof or evidence, it showcased the bank in a negative manner. Further, he also published sensitive documents to local media papers, causing even more damages. All these events had a negative impact on the bank’s reputation and to stop this, the case was launched.
Judges gave the verdict in favour of Finance Bank by saying “Simataa, in the settlement agreement, bound himself not to -publish, broadcast or utter any statements adverse to or which are intended to harm or have the effect of character of Finance Bank and Dr Mahtani”.
Since he broke this agreement term at various occasions, he was charges guilty of the charges pressed against him. He will also be paying fine for his activities and will also be monitored strictly by the government.