- May 14, 2020
-- The higher Court of Appeal announced its final decision on the Portland Cement Zambia case on 31st January 2019. According to this verdict, Dr. Rajan Mahtani
was given legal ownership and majority shareholding of the Portland Cement Zambia factory. This decision was given after evaluating the submitted evidences and testimonials. Based on the evidences, it was found that Dr. Rajan Mahtani
paid an amount of one billion kwachas to the Portland Cement Zambia which covered the entire value of the share capital for the Zambezi Portland Cement
factory. This amount was also equal to USD 250,000 and covered the 58 percent shares which Dr. Mahtani took over. This exchange was made in the year 2005 and was recorded officially in the year 2007 when the original shareholders' agreement was established.
Now that it has been proved that Dr. Rajan Mahtani is the actual owner of the Portland Cement Zambia factory, a huge task lies ahead for the businessman. This task is to transform the Portland Cement Zambia factory to its former glory. Before the unethical takeover of the factory, it was one of the higher producers of Portland cement across Zambia. However, the long-pending case left the factory in ruins due to lack of effective leadership. While it is a tough and challenging task, Dr. Rajan Mahtani is up for it considering his decade-long fight for legal takeover of the 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.