- Jan. 9, 2020
-- After more than a decade of court proceedings and appeals, the final judgement for the long-pending Lusaka High Court came out, but from a different court. Dr. Rajan Mahtani had initially registered the case at the Lusaka High Court but the court took more than a decade to announce the final decision. Even after this long stretch, the final decision from the Lusaka High Court was extremely controversial as it was announced that Ventriglias were only shareholders of the Portland Cement Zambia. This decision was made even though Dr. Rajan Mahtani
and his lawyers submitted numerous evidences and testimonials which clearly indicated that Dr. Rajan Mahtani was the actual owner of the factory.
After this misdirected decision, Dr. Rajan Mahtani rightly approached the Court of Appeal. The Court of Appeal is among the highest-level courts in Zambia and is known for quick and transparent justice. The Court of Appeal did not disappoint and provided judgement within a timespan of nine months. The judge at the Court of Appeal was justice Mwinde who gave the final judgement on 31st January 2019. According to his decision, Dr. Rajan Mahtani is the majority shareholder of the Portland Cement Zambia factory as his company, Finsbury Investments holds 58 percent shares. 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. The Court of Appeal judge also said that this decision aligned with the original shareholders agreement established in the year 2007.
Based on this decision, it is clearly established that Dr. Rajan Mahtani is the actual owner of the factory.
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.