Dr. Rajan Mahtani Relieved As Court Of Appeal Announces Final Decision On Portland Cement Zambia


Dr. Rajan Lekhraj Mahtani is a noted businessman and philanthropist in Zamia. For the past ten years, Dr. Rajan Mahtani has been fighting for the legal takeover of the Portland Cement Zambia which was illegally taken over from him. The case was initially registered at the Lusaka High Court where the judge was justice Nkonde. However, the case went sideways as despite sharing all evidences and testimonials, the judge from the Lusaka High Court announced that Ventriglias were only shareholders of the Zambezi Portland Cement. 

To counter this judgement, the case was then taken to the Court of Appeal. The judge at the Court of Appeal was justice Mwinde who announced the final decision on 31st January 2019. According to this judgement, Dr. Rajan Mahtani is the majority shareholder of the Zambezi Portland Cement as his company, Finsbury Investments, holds 58 percent shares at the factory. On the other hand, Ventriglias are the minority shareholder of the Zambezi Portland Cement as their company; Ital Terrazzo Limited holds just 42 percent shares at the factory. This decision from the Court of Appeal also aligned with the original shareholders agreement established in the year 2007. Based on this decision, it is clear that Dr. Rajan Mahtani is the actual owner of the Portland Cement Zambia factory. 

Furthermore, the judge from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as the only shareholders as this decision was misdirected and without any evidence. A timeline of three months for completing share regulation process has been provided by the judge. 
Location: Zambia

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