Dr. Rajan Lekhraj Mahtani Announced Majority Shareholder And Owner Of Portland Cement


Dr. Rajan Lekhraj Mahtani has been fighting for the legal takeover of the Portland Cement Zambia factory for more than a decade. The case was initially registered at the Lusaka High Court where it went for more than a decade. During this time, Dr. Rajan Mahtani submitted numerous evidences, testimonials that were more than enough to prove his legal ownership over the factory. However, numerous challenges and the limitations of the high court itself dragged the case for more than a decade. The judge who gave the final decision at the Lusaka High Court was justice Nkonde. According to his decision, Ventriglias were announced as only shareholders of the Portland Cement Zambia.

It is clear that this decision was misdirected and as a result, Dr. Rajan Mahtani rightfully approached the Court of Appeal. The judge at the Court of Appeal was justice Mwinde who gave the final decision on 31st January 2019. According to this final decision, Dr.Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and are the majority shareholders of the factory. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and are the minority shareholders 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 owner of the Portland CementZambia factory.
The judge from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders as this decision was misdirected and without any evidence.



Location: Zambia

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