It’s usual concoctions: NCZ has no loan facility with Dr Mahtani or Finance Bank

Filed under: Exclusives,Statements |

matThe Ventriglias (Italian Mafias) funded Zambia Reports, (controlled by Sakwiba Sikota S.C., in its bi-weekly mission, usual style and fashion of desperately attempting to defame Dr. Rajan Mahtani through noms de plume have carried an Article entitled “Mahtani Now Aims to Take over NCZ.”
In order to justify our statement ZWD investigated this allegation and here are our findings. Nitrogen Chemicals of Zambia Limited does not have a facility with Dr. Mahtani or indeed any of the institutions associated with him, including Finance Bank Zambia Plc. The said Article is disquieting to say the least and it must be treated with the contempt it deserves. The tendency of Zambia Reports in its malicious “reporting” cannot pass as journalism and questions whether Zambia Reports believes in misleading the readers and indeed the Nation? Will they get away with their lies after lies?
Perhaps we should take a bit of time to enlighten Zambia Reports about Banking. In general terms, Banking is the business activity of accepting and safeguarding money owned by other individuals and entities, and then lending out this money in order to earn a profit.
The lending is usually supported by collateral. Collateral is property or other assets that a borrower offers a lender to secure a loan. If the borrower stops making the promised loan payments, the lender can seize the collateral to recoup its losses.
With this backdrop, it is clear that even before a Bank can consider repossessing a property from a customer, a facility must exist to begin with. Further, there has to be default before a Bank can foreclose on a property. Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.
The inscrutability question that then begs an answer from no average intelligent person but the ever genius Zambia Reports is this: “How a Bank can reposes an unpledged property from a Third Party which has no loan facility with it?”
In Dr. Mahtani’s words, “I am a firm believer of Constructive Journalism but this demands the truth, this demands ethics, this demands morals and principles, this demands fairness and calls on the media to be independent, investigative and trustworthy. Of all the articles Zambia Reports have reported on me, neither I nor any of my associates have received any calls for comments, confirmations, denials or otherwise?
Does this alone not prove that their motives are malicious, corrupt, selfish and devious to mislead the public with falsehoods and to smear and assassinate the character and good standing of Dr. Mahtani for their own illegal gains and greed?
ZWD have just completed their investigation on the Ventriglias and their conspirators’ alleged adultery, money laundering, corruption, forgery, theft and other indictments! Watch this space.