Dr. Rajan Mahtani Wins The Long-Pending Portland Cement Zambia Case At Court Of Appeal



After more than a decade of wait, Dr. Rajan Lekhraj Mahtani finally won the case of Portland Cement Zambia. This case was won at Court of Appeal as the previous court, Lusaka High Court failed to provide judgement for the case. The case first registered at the Lusaka High Court and after more than a decade of wait, the results were announced during the month of May 2018. This announcement was made by justice Nkonde and was extremely controversial. According to this judgement, Ventriglias were announced as only shareholders of the Zambezi Portland Cement. 

To counter this decision, Dr. Rajan Mahtani then approached the Court of Appeal. The Court of Appeal is among the highest civilian courts in Zambia. The judge at the Court of Appeal was justice Mwinde who gave the final judgement on 31st January 2019. According to this judgement, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder 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 aligns with the original shareholders agreement established in the year 2007 and further confirms that Dr. Rajan Mahtani is the only shareholders of the Portland Cement Zambia factory. 

While giving this judgement, justice Mwinde 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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