- Dec. 3, 2019
-- Court of Appeal finalised a decision for the long-pending Portland Cement Zambia case. This case is one of the longest high-profile corporate cases in Zambia and was registered initially at the Lusaka High Court by Dr. Rajan Mahtani. After Lusaka High Court failed to give right judgement despite more than a decade of case proceedings and despite sharing numerous evidences and testimonials, Dr. Rajan Mahtani approached the Court of Appeal. The judge at the Court of Appeal was justice Mwinde who gave the judgement after looking into all evidences and testimonials which were conveniently ignored by the previous judge. As per the final decision from the Court of Appeal judge, Dr. Rajan Mahtani is the majority shareholder of the Portland Cement Zambia factory as his company, Finsbury Investments, holds 58 percent shares at the factory. On the other hand, Ventriglias are the minority shareholders of the Portland Cement Zambia factory as their entity; Ital Terrazzo Limited holds just 42 percent shares at the factory. Based on this decision, it is confirmed that Dr. Rajan Mahtani is the actual owner of the factory. The judge from the Court of Appeal also confirmed that the judge below him was wrong in declaring Ventriglias as the only shareholders as this decision was misdirected and against the interests of the public policies.
The judge from the Court of Appeal also gave a timeline of three months from the date of the judgement during which all share sales and regulations related activities must be completed.
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.