- Oct. 11, 2019
-- Dr. Rajan Lekhraj Mahtani is a noted businessman in Zambia who had been engaged in court battle for the ownership of Portland Cement Zambia, a noted cement manufacturing factory. The case was registered at the Lusaka High Court after Dr. Mahtani claimed that the factory was illegally taken over from him. Despite sharing numerous evidences and testimonials, the final judgement from the Lusaka High Court judge was extremely controversial. According to this judgement, Ventriglias were the only shareholders of the Zambezi Portland Cement. To counter this judgement, Dr. Rajan Mahtani took the case to Court of Appeal.
The Court of Appeal announced its judgement on 31st
January 2019. According to this judgement, Dr. Rajan Mahtani is the majority shareholder of the Portland Cement Zambia as his company Finsbury Investments holds 58 percent shares at the factory. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and is the minority shareholder without any legal ownership over the factory. Based on this decision from the Court of Appeal, it has been established that Dr. Rajan Mahtani is the majority shareholder and only owner of the factory.
While giving this decision, justice Mwinde from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders of the Zambezi Portland Cement as this decision was against the interests of the public policies.
About Dr. Rajan Mahtani
Dr. Rajan Lekhraj Mahtani is noted businessman, philanthropist and charitable person. He is owner of Mahtani Group of Industries and Finsbury Investment. He is also responsible for success of many other institutions such as Finance Bank Zambia and Zambezi Portland Cement. He has activity participated across various community, environmental and development activities. However, there are few individuals who always try to conspire against him.