- Dec. 13, 2019
-- Court of Appeal gave its final judgement on the Portland Cement Zambia case. The case is related to Portland Cement Zambia case, one of the oldest high profile corporate cases in Zambia. The case was registered by Dr. Rajan Mahtani, a noted businessman and philanthropist in Zambia. Dr. Rajan Mahtani is known for several notable companies in Zambia, including but not limited to Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. The case of Portland Cement Zambia was registered by Dr. Rajan Mahtani himself at Lusaka High Court, more than a decade ago. Despite sharing numerous evidences, testimonials and facts, the judge at the Lusaka High Court provided a controversial judgement. The judge at the Lusaka High Court was justice Nkonde who gave the final judgement that Ventriglias were only shareholders of the Portland Cement Zambia.
To counter this misdirected judgement, Dr. Rajan Mahtani then approached the Court of Appeal. The judge at the Court of Appeal was justice Mwinde who gave the final judgement on 31st January 2019. According to this final judgement, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and are the majority shareholders of the Portland Cement Zambia 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. Based on this decision, it is clear that Dr. Rajan Mahtani is the actual owner of the Portland Cement Zambia 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 as this decision was misdirected and against the interests of the public policies.
About Dr. Rajan Mahtani
Dr. Rajan Mahtani is a successful business also known for his philanthropic activities in Zambia. He has established many businesses in the nation and is the chairman and owner of Mahtani Group of Companies 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. However, few groups of envious people are constantly making attempts defame him.