- Jan. 16, 2020
-- The final decision on the Portland Cement Zambia was announced. This decision was given in favour of Dr. Rajan Mahtani after a wait of more than a decade. After the Lusaka High Court failed to provide a fair and transparent judgement for the case, Dr. Rajan Mahtani reached out to the Court of Appeal. The Court of Appeal is among the highest courts in Zambia and the final decision from the court came very soon. The judge at the Court of Appeal was justice Mwinde who gave the final decision after looking into all evidences and testimonials. According to this final decision, Dr. Rajan Mahtani is the actual owner of the Portland Cement Zambia factory with 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. Based on this decision, it is clear that Dr. Rajan Mahtani is the actual owner of the Portland Cement Zambia factory.
During this decision, justice Mwinde from the Court of Appeal also said that the judge at Lusaka High Court was wrong in declaring Ventriglias as only shareholders as this decision was misdirected. Furthermore, justice Mwinde essentially reversed the earlier decision from the Lusaka High Court which said that Ventriglias were only shareholders of the Portland Cement Zambia. The judge from the Court of Appeal also provided a timeline of three months from the date of the judgement during which all share sales and regulations related activities must be completed.
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.