- Jan. 13, 2020
-- Dr. Rajan Lekhraj Mahtani received one of the most critical decisions in its business career on 31st January 2019. It was related to the Portland Cement Zambia case, one of the longest pending cases for Dr. Mahtani. On 31st January 2019, justice Mwinde from the Court of Appal gave ultimate judgement that Dr. Rajan Mahtani was the actual owner of the Portland Cement Zambia factory. This decision was given based on the factual evidence indicating that Dr. Mahtani owned Finsbury Investments held 58 percent shares at the factory and automatically becomes the majority shareholder of the factory. On the other hand, Ventriglias held only 42 percent shares of the cement-manufacturing factory via their entity Ital Terrazzo Limited and automatically became the minority shareholders without any legal ownership over the factory.
By giving this decision, justice Mwinde from the Court of Appeal effectively reversed the previous judgement from the Lusaka High Court that had earlier announced Ventriglias as only shareholders of the Portland Cement Zambia. 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
For the past three decades, Dr. Rajan Lekhraj Mahtani has been successfully building significant ventures and businesses, benefiting its employees, communities and environment. He is a noted charity worker, philanthropist as well as successful businessman known for his honest, ethical and transparent business practices. Despite the dwindling economy of Zambia and numerous defamation conspiracies by unethical entities, Dr. Mahtani continues to work for the betterment of the Zambia society.