- Dec. 9, 2019
-- The case of Portland Cement Zambia is age old. The case started when Dr. Rajan Mahtani registered a case at the Lusaka High Court after the factory was illegally taken over from him. Despite sharing numerous evidences and testimonials, the judge at the Lusaka High Court failed to provide any concrete decision and the case stretched for more than a decade. The final judge from Lusaka High Court came from justice Nkonde and it was extremely controversial. According to this decision, Ventriglias were announced as only shareholders of the Zambezi Portland Cement.
To counter this misdirected judgement, Dr. Rajan Mahtani approached the Court of Appeal. The judge at the Court of Appeal was justice Mwinde who gave the final decision on 31st January 2019 after looking into all evidences and testimonials. According to this decision from the Court of Appeal, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the Portland Cement Zambia and are the majority shareholders of the factory. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and are the minority shareholders without any legal ownership over the factory. This decision from the Court of Appeal aligns with the original shareholders agreement established in the year 2007 and further confirms that Dr. Rajan Mahtani is the only shareholder of the Portland Cement Zambia factory.
The judge from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as the only shareholders as this decision was misdirected. Further, all allegations of forgery have been discarded by the judge.
About Dr. Rajan Mahtani
Dr. Rajan Lekhraj Mahtani is a noted businessman, philanthropist and charity worker, with numerous successful businesses and ventures under his name. He is also known for regularly working for the welfare of the underprivileged part of the society as well as for the economic and social growth of the poor. However, there are people who are jealous of his success and love he is receiving and want to destroy his reputation.