Dr. Rajan Mahtani gains back legal control of the Portland Cement factory
After a decade of fight, Dr. Rajan Mahtani gains back legal control of the Portland Cement factory
By: Dr. Rajan Lekhraj Mahtani
On 31st January 2019, the Court of Appeal gave the final decision on the Portland Cement Zambia case. According to this decision, Dr. Rajan Mahtani was found to be the majority shareholder of the factory. This decision was given after looking into the critical evidences shared before the court. According to this evidence, Dr. Rajan Lekhraj Mahtani has paid a sum of 1 billion kwachas or USD 250,000 which was the value of entire share capital of the Zambezi Portland Cement which Dr. Rajan Mahtani took over via his company Finsbury Investments. This evidence was confirmed in the page 663, volume 1- Record of Appeal of the original shareholders agreement established in the year 2007. Based on these critical evidences, it is not clearly established that Dr. Mahtani owns 58 percent shares at the Portland Cement Zambia factory and he is only the majority shareholder and legal owner of the factory.
What is interesting here is the fact that these documents and evidences were also submitted to the Lusaka High Court wherein the case was originally registered and despite these evidences, the judge at the Lusaka High Court gave a false and controversial judgement.
About Dr. Rajan Mahtani
Dr. Rajan Lekhraj Mahtani is one of the most respected businessmen in Zambia with significant companies under his name, including Finsbury Investments and Mahtani Group of Companies. Dr. Rajan Mahtani has continuously faced significant challenges in Zambia and yet has remained firm in his stand for honesty and transparency.