- Feb. 11, 2020
-- The case of Portland Cement Zambia is peculiar. The case was established with the objective gaining back the ownership of the cement-manufacturing factory. After sharing all required evidences, testimonials, facts, it was expected that the decision will be quick. In fact, after more than ten years of wait the judge at the Lusaka High Court closed all case proceedings and announced that the final decision will be given based on the available evidences, testimonials in written and oral format. However, the decision which was given during the month of May, 2018 was extremely controversial. As per this announcement by justice Nkonde from Lusaka High Court, Ventriglias were conferred with majority shareholding and ownership of Portland Cement
. After this misdirected judgement, the higher Court of Appeal was approached.
The Court of Appeal is one of the highest judicial systems in Zambia and it did not disappoint. The judge at the Court of Appeal was justice Mwinde and accounting to his statement given on 31st January 2019, Dr. Rajan Lekhraj Mahtani was the legal owner of Portland Cement Zambia with 58 percent shares at Zambezi Portland factory which means majority shareholding. In fact, the judge also confirmed that Ventriglias only held 42 percent Zambezi Portland Cement shares and thus became only minority shareholders without having any type of legal ownership. As a result, the shareholding pattern, clearly established the fact that the judge at Lusaka High Court was misdirected when he announced Ventriglias as only shareholder of Portland Cement.
About Dr. Rajan Mahtani
Dr. Rajan Mahtani is a notable name within the corporate and business environment of Zambia. His companies Mahtani Group of Industries and Finsbury Investments are known for their transparent and ethical standings. Despite being framed unethically and suffering from conspiracy theories, Dr. Rajan Mahtani has maintained an ethical and honest image and is lauded among his industry colleagues.