- June 16, 2020
-- Dr. Rajan Lekhraj Mahtani's struggle for Portland Cement Zambia remains despite the win at the higher Court of Appeal. The case was started more than a decade ago when Dr. Rajan Mahtani claimed that the factory was unethically taken over from him. To support his claim, several major evidences were provided by Dr. Rajan Mahtani
. Despite these evidentiary support, Dr. Mahtani met with disappointment at the Lusaka High Court when after more than a decade of court proceedings the final verdict was dismal. Justice Nkonde announced Ventriglias as the only shareholders of the Portland Cement Zambia.
Considering this decision to be misleading, Dr. Rajan Mahtani
appealed to the higher Court of Appeal. The judge at the higher Court of Appeal was justice Mwinde who evaluated the evidences and testimonials thoroughly. After evaluation of the evidences, it was found that Dr. Rajan Mahtani paid a sum of one billion kwachas with interest to the Portland Cement Zambia limited. This transaction was made in the year 2005 via Dr. Mahtani owned Finsbury Investments. Furthermore, the 2007-established stakeholder agreement report clearly established the fact that Dr. Rajan Mahtani took over ownership of 58 percent Portland Cement
shared after making the above payment. Based on this critical evidence, it was finally proved that the factory actually belongs to Dr. Rajan Mahtani only.
On 31st January 2019, the final verdict from the higher Court of Appeal was announced. According to this verdict, Dr. Rajan Mahtani was given the actual ownership of the factory. Despite this huge win, a lot of challenges are in front of Dr. Mahtani. These challenges are to improve the productivity and performance of the factory and ensure its original glory.
About Dr. Rajan Mahtani
Dr. Rajan Mahtani is a successful Zambian businessman with more than three decades of business experience. His companies have achieved major success in business and transparent business practices.