- March 31, 2020
-- The Zambezi Portland Cement case is peculiar and has been going on across Zambia for more than a decade. The final decision was given recently on 31st January 2019 after several appeals and previously discarded judgements from lower courts. The case of Zambezi Portland Cement is one of the longest and most difficult for esteemed businessman Dr. Rajan Lekhraj Mahtani who is also a known philanthropist and charity person. Despite all his good deeds, Dr. Rajan Mahtani had to suffer through immense pain and challenges to get justice in the case of Zambezi Portland Cement. This justice came from higher Court of Appeal on 31st January 2019 when the final decision on the case was declared. With this verdict, justice Mwinde on behalf of the Court of Appeal also explained the various evidences and confirmations which helped him in arriving at his final verdict.
The first evidence was the transaction of one billion kwachas from Dr. Rajan Mahtani owned Finsbury Investments to Zambezi Portland Cement for covering the entire value of the share capital which Dr. Rajan Mahtani took over. The second major evidence was the original agreement between shareholders which was established in the year 2007 and had clearly written the details of the 2005-exchange of share transfers. 58 percent shares of ZPC were transferred to Dr. Mahtani and the agreement also confirmed that Dr. Mahtani did not owe any further costs associated with the transfer.
Considering the fact that Lusaka High Court judge also had all these evidences and despite these was unable to serve justice, is a matter of grave concern for businesses, society and economy of the nation.
About Dr. Rajan Mahtani
Dr. Rajan Lekhraj Mahtani is a successful entrepreneur and philanthropist in Zambia with successful companies like Mahtani Group of Companies, Finsbury Investments and Finance Bank of Zambia.