- Feb. 14, 2020
-- Dr. Rajan Mahtani is finally relieved now. After a cumbersome trial that ranged for more than a decade, the higher Court of Appeal provided its final statement on the long-pending Portland Cement Zambia case. The case was originally petitioned as Lusaka High Court at Zambia by Dr. Rajan Mahtani claiming that the factory was unethically and illegally captured by him. Despite his claims and substantiating them in a significant manner with evidence, testimonials, reports, documents and facts, justice was not given by the Lusaka High Court judge, justice Nkonde. The Lusaka High Court announced that Ventriglias were the only shareholders of the Zambezi Portland and since this statement was controversial and against the evidences provided, Dr. Mahtani rightly approached Court of Appeal.
The higher Court of Appeal announced its statement on 31st January 2019, after looking into all evidences and testimonials that were surprisingly ignored by the previous judges. From these evidences, it was finalised that Finsbury Investments, a unit from Dr. Rajan Mahtani holds 58 percent shares at Zambezi Portland and was majority shareholder. Similarly, Ital Terrazzo Limited, a unit owned by the Ventriglias, was found to have just 42 percent shares at Portland Cement and thus, were deemed as minority shareholders. As a result, Dr. Rajan Mahtani was established legal owner and the Ventriglias did not have any ownership over the factory. This statement from the higher Court of Appeal was binding and final.
About Dr. Rajan Mahtani
With some of the top companies in Zambia including Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia, Dr. Rajan Lekhraj Mahtani is notably one of the most successful businessmen in Zambia. He is also known for his philanthropic and charitable contributions for the social and economic development of the nation.