Monday 28 February 2011

THE CASE IN WHICH FORMER FINANCE BANK ZAMBIA LIMITED CHAIRPERSON DR RAJAN MAHTANI AND OTHER SHAREHOLDERS JOURNED TO 4TH MARCH THIS YEAR.

THE CASE IN WHICH FORMER FINANCE BANK ZAMBIA LIMITED CHAIRPERSON DR RAJAN MAHTANI AND OTHER SHAREHOLDERS WHO HAVE FILED IN A COURT INJUNCTION TO RESTRAIN THE BANK OF ZAMBIA TO STOP INTERFERING IN THE OPERATIONS OF FIANCÉ BANK HAS BEEN ADJOURNED TO 4TH MARCH THIS YEAR.
THE MATTER FAILED TO TAKE OFF TODAY AT THE NDOLA HIGH COURT AS THE PRESIDING JUDGE MUNALULA LISIMBA DID NOT SHOW UP AS HE HIS REPORTED TO BE ATTENDING FAMILY BEREAVEMENT IN LIVINGSTONE.
THIS IS THE MATTER WERE LAWYERS REPRESENTING DR MATHANI MADE SUBMISSIONS THAT THE NDOLA HIGH COURT GRANTS AN INJUNCTION TO THEIR CLIENTS AND OTHER SHAREHOLDERS OF FINANCE BANK.
THE LAWYERS ALSO NOTED THAT THERE IS NEED FOR AN INJUNCTION TO STOP THE BANK OF ZAMBIA FROM INTERFERING WITH THE PETITIONERS INTERESTS.
THE LAWYERS ALSO STATED THAT THERE IS OVERWHELMING EVIDENCE THAT THE BANK OF ZAMBIA IS USING STATUTORY POWERS RATHER THAN THOSE SET BY PARLIAMENT ADDING THAT THERE IS NO CONSENT IN THE LAW TO RECAPITALIZE A BANK IN POSSESSION.
published by augustine m sichula

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