- Nov. 4, 2019
-- The final decision on the Portland Cement Zambia case was announced on 31st January 2019. This decision was announced by Court of Appeal around nine months after the case was registered there. Before Court of Appeal, the case was registered at the Lusaka High Court by Dr. Rajan Mahtani himself after he claimed that his factory was illegally taken over from him. Since then, several evidences, facts and testimonials were presented before the court. Despite these evidences, the final decision from the Lusaka High Court judge was extremely controversial as it was finalised that Ventriglias were only shareholders of the Zambezi Portland Cement.
After this controversial decision, Dr. Rajan Mahtani took the case to the Court of Appeal. The Court of Appeal announced the final decision on 31st January 2019 after looking into all evidences and testimonials. Based on this decision, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Zambezi Portland Cement with 58 percent shares. 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. This decision also aligned with the original shareholders agreement established in the year 2007 and further proves that Dr. Rajan Mahtani is the actual and legal owner of the factory.
While announcing this decision, justice Mwinde from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders as this decision was biased and without any evidence or facts. As of now, Dr. Rajan Mahtani has been given back the legal ownership over the factory.
About Dr. Rajan Mahtani
Dr. Rajan Lekhraj Mahtani is a noted business with many successful businesses under his name, including Mahtani Group of Companies and Finsbury Investments. He is also a noted philanthropist and charity worker in Zambia. He has dedicated most of his life towards starting many development projects across, resulting in the growth and development of Zambia's economy.