- May 11, 2020
-- Dr. Rajan Lekhraj Mahtani was finally given justice in the long-pending Portland Cement Zambia case. This justice came from higher Court of Appeal on 31st January 2019 wherein justice Mwinde announced Dr. Rajan Mahtani as the actual owner and majority shareholder of the Portland Cement Zambia factory. According to the details shared by justice Mwinde on the case, it was found that Dr. Rajan Mahtani made a legal payment of online billion kwachas to the Zambezi Portland Cement limited. This amount was paid for covering the share capital value of the Portland Cement Zambia and was paid by Finsbury Investments, a company owned by Dr. Rajan Mahtani himself. Furthermore, the evidences also confirmed the dates associated with the shares takeover. While Dr. Rajan Mahtani made the payment in the year 2005, the original Shareholders' Agreement was established in the year 2007 and in this agreement, it was clearly mentioned that Dr. Rajan Mahtani has made all payments associated with the factory's takeover and he is liable for 58 percent shares of the factory. Based on these evidences, it was clearly established that Dr. Rajan Lekhraj Mahtani was the actual owner of the Portland Cement Zambia factory.
While giving these decisions, Justice Mwinde on behalf of the higher Court of Appeal also condemned the decision by Lusaka High Court judge by announcing it to be misdirected and against the interests of the public policies. Justice Mwinde declared his judgement on Portland Cement as final and announced that all activities must be undertaken based on his judgement only.
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.