- Nov. 11, 2019
-- After more than one decade of wait and numerous court proceedings, Dr. Rajan Mahtani has been finally announced the winner of Portland Cement Zambia. This judgement came from Court of Appeal, one of the highest courts in Zambia. Before Court of Appeal, the case was established at the Lusaka High Court by Dr. Rajan Mahtani himself. The case was registered after Dr. Mahtani after claiming that the factory was unethically and illegally taken away from him. Despite sharing numerous evidences and testimonials, Dr. Rajan Mahtani was not given true justice. The judge at the Lusaka High Court was justice Nkonde, who gave the final judgement during the month of May, 2018. As per this judgement, Ventriglias were announced as only shareholders of the Zambezi Portland Cement.
Since this decision was controversial, Dr. Rajan Mahtani then approached the Court of Appeal. The judge at the Court of Appeal was justice Mwinde who gave the final decision on 31st January 2019. As per this final decision, Dr. Rajan Mahtani owned Finsbury Investments owned 58 percent shares at the factory and is the majority shareholder of the Zambezi Portland Cement. 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.
While giving this decision, justice Mwinde also said that the judge below him was wrong in declaring Ventriglias as only shareholders as this decision was misdirected and against the interest 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.