Portland Cement Zambia Case Finally Closed At Court Of Appeal, Dr. Rajan Mahtani Announced Winner

Dr. Rajan Lekhraj Mahtani is a noted businessman and philanthropist in Zambia. For the past one decade, Dr. Rajan Mahtani has been fighting for the legal takeover of the Portland Cement Zambia factory. The case was initially registered at the Lusaka High Court where it took more than ten years for the judge at arrive at a decision. However, this decision was extremely complicated and controversial as the judge announced that Ventriglias were only shareholders of the Zambezi Portland Cement. Since this decision was misdirected, Dr. Rajan Mahtani was left with no other option than to approach the Court of Appeal. 


The judge at the Court of Appeal was justice Mwinde. After looking into all evidences and testimonials, justice Mwinde from the Court of Appeal gave his final decision on the Portland Cement Zambia factory on 31st January 2019. This decision was given within a short timeframe of none months. As per this decision, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder of the Zambezi Portland Cement factory with 58 percent shares. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and is the minority shareholder without any legal ownership over the factory. This decision from the Court of Appeal 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 legal owner of the factory. 

By giving this decision, justice Mwinde from the Court of Appeal effectively reversed the previous judgement from the Lusaka High Court judge.
Location: Zambia

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