Dr. Rajan Lekhraj Mahtani Finally Receives Justice After A Decade Wait, Receives Ownership Of Zpc

On 31^st January 2019, the judge from the Court of Appeal gave the final statement for the Portland Cement Zambia factory. In was confirmed by the higher Court of Appeal that the appellant, which is in this case in Finsbury Investments, paid an amount of USD 250,000 on July 2005 to the Zambezi Portland Cement. This amount was paid for covering the value associated with Zambezi Portland Cement shares. The report also confirmed that this amount was equivalent to 1 Billion Kwacha and was paid for buying 58 percent shares of the same factory. This shareholding pattern was further confirmed in the original Shareholders’ Agreement which was created in the year 2007. The Court of Appeal judge stated that on the page-663 of the contract, it was clearly mentioned that all amount for the 58 percent shares was already paid by the Finsbury Investments, a company owned by Dr. Rajan Lekhraj Mahtani. This also confirmed that the other party owned only 42 percent shares of the factory. This, it became clear that Dr. Rajan Mahtani was the actual and legal owner of Zambezi Portland Cement.

In a similar manner, the judge from the higher Court of Appeal also stated that all appeals of forgery in this case must be withdrawn. Justice Mwinde confirmed that there was no evidence of fraud by Finsbury Investments who was the appellant in this case. It was clearly established that the process of electronically affixing signatures was an accepted and common practice in Zambezi Portland Cement for business transactions. Thus, after more than a decade of patient wait, Dr. Rajan Mahtani received back his company, Zambezi Portland Cement.