Court of Appeal Finalises The Case Of Portland Cement Zambia, Announces Dr. Mahtani As Winner


31st January 2019 was a significant date for Dr. Rajan Lekhraj Mahtani. On this date, he received the ultimate final judgement on the long-pending Portland Cement Zambia case. This case can be easily regarded as one of the longest cases for Dr. Mahtani for which he faced significant struggles. After the factory was unethically taken over from him, Dr. Rajan Lekhraj Mahtani approached the Lusaka High Court for justice. The Lusaka High Court took more than a decade to share their final results on the case and that too a controversial one. Despite sharing numerous evidences and testimonials, justice Nkonde from the Lusaka High Court announced that Ventriglias were only shareholders of the Portland Cement Zambia factory. This was an extremely controversial decision which prompted Dr. Mahtani to approach the Court of Appeal. 


The judge at the Court of Appeal was justice Mwinde who gave the final decision after looking into all evidences and testimonials. According to this decision, Dr. Rajan Mahtani who owns the Finsbury Investments company holds 58 percent shares at the Portland Cement Zambia factory and is automatically the majority shareholder of the factory. On the other hand, Ventriglias who own the entity names Ital Terrazzo Limited hold just 42 percent shares at the Portland Cement factory and are the minority shareholders without any legal ownership over the factory. This decision from the Court of Appeal also coincides with the original shareholders agreement established in the year 2007 and further confirm that Dr. Rajan Mahtani is the actual owner of the factory. 

A timeline of three months has been provided by the Court of Appeal judge to complete the share regulation processes. 
Location: Zambia

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