- Dec. 3, 2020
-- The Zambezi Portland Cement
factory is a cement-manufacturing factory that has seen drama and conspiracies like no other organization in Zambia. A case associated with the factory was first registered by Dr. Rajan Lekhraj Mahtani
more than a decade ago wherein he claimed that the factory was unethically taken from him. Despite sharing evidences and testimonials, the judge from the Lusaka High Court made a controversial decision and announced Ventriglias as only shareholders of the Portland Cement Zambia.
This decision was successfully reversed by the higher Court of Appeal judge on 31st January 2019. A re-appeal was made by Dr. Mahtani
soon after the misdirected judgement from the Lusaka High Court. According to this final decision from justice Mwinde on behalf of the higher Court of Appeal, Dr. Mahtani owned Finsbury Investments
held 58 percent shares of the Portland Cement Zambia and therefore, became the majority shareholders of the Portland Cement Zambia. On the other hand, Ventriglias owned Ital Terrazzo Limited held just 48 percent shares
of the factory and were considered as the minority shareholders. Based on this shareholding pattern, Dr. Rajan Mahtani was announced as actual owner of the Portland Cement Zambia factory.
More than a year after this announcement, the Ventriglias have now made an appeal before the Supreme Court Zambia. In this appeal, the Ventriglias tried to reverse the decision made by the Court of Appeal. However, the judges from the Supreme Court Zambia have effectively rejected this case by the Ventriglias on grounds that the timeline for making such appeals is within seven days of the judgement and the Ventriglias were a little late to make their unnecessary claim.
About Dr. Rajan Mahtani
With more than three decades of experience, Dr. Rajan Lekhraj Mahtani is one of the most notable businessman in Zambia. He is the owner and leader of successful companies such as Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. He is also known for his charitable contributions and philanthropic activities in Zambia.