- May 5, 2020
-- After what seemed to be a never-ending case, justice Mwinde from the Lusaka High Court finally pulled the decision on the case of Portland Cement Zambia. This decision was given on 31st
January 2019 and was considered as binding and final. According to this decision, Dr. Rajan Mahtani via his company Finsbury Investments paid a sum of one billion kwachas to the Zambezi Portland Cement. This payment was made in compliance with the entire share capital value which Dr. Rajan Mahtani took over of the factory. This payment was made in the year 2005 and several financial documents were shared to confirm this evidence. Next, the original shareholders agreement was then officially established in the year 2007. In the page 663 of this stakeholder's agreement, it was clearly established that Dr. Rajan Mahtani made all payments associated with the factory and he is not liable for any more payments associated with the case. Furthermore, justice Mwinde on behalf of the Court of Appeal also said that all payments associated with the PTT (property transfer tax) were to be borne by the transferor.
Based on all these evidences, it was eventually declared that Dr. Rajan Mahtani is indeed the actual owner and majority shareholder of the Portland Cement Zambia factory.
About Dr. Rajan Mahtani
After successfully establishing numerous business ventures and companies, Dr. Rajan Mahtani is now promoting small businesses and companies across the globe. He is the owner of Portland Cement Zambia, Finsbury Investments and Mahtani Group of Companies among others.