- Jan. 3, 2020
-- After more than a decade of wait, Dr. Rajan Lekhraj Mahtani has been finally conferred as the majority shareholder and owner of the Portland Cement Zambia factory. This announcement came more than a decade after the case was first registered. It should be noted here that the case was first registered at the Lusaka High Court by Dr. Rajan Mahtani himself, claiming this his factory and illegally and unethically taken over from him. Despite sharing numerous evidences and testimonials, the judges at the Lusaka High Court failed to provide right judgement. After more than a decade of wait, justice Nkonde from the Lusaka High Court announced the final judgement for the case. However, this judgement was extremely controversial as justice Nkonde announced that Ventriglias were only shareholders of the Portland Cement Zambia.
To counter this judgement, Dr. Mahtani registered another appeal at the Court of Appeal. The judge at the Court of Appeal was justice Mwinde who gave the final judgement on 31st January 2019, around nine months after the case was registered at the court. This judgement was given after looking into evidences and testimonials. According to this final judgement, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder of the factory. 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. Based on this decision, it is clearly established that Dr. Rajan Mahtani
is the actual owner of the factory.
During this judgement, 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 without any evidence.
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.