Zambezi Portland Cement Belongs To Dr. Rajan Lekhraj Mahtani, Announces Court Of Appeal After Trial

According to the latest news reports, the unethical activities of one of the most notorious houses in Zambia have been finally exposed. This pertains to the case of Zambezi Portland Cement which went on at the Lusaka High Court for more than ten years. Dr. Rajan Mahtani, a popular businessman in Zambia, registered the case at the Lusaka High Court and despite sharing critical evidences; the final judgement from the high court judge was that the Ventriglias were only shareholders of the Zambezi Portland Cement. Dr. Rajan Mahtani then approached the Court of Appeal. 

The Court of Appeal announced its final judgement on 31st January 2019. According to this judgement, Finsbury Investments is the majority shareholder with 58 percent shares. On the other hand, Ital Terrazzo Limited which is a business entity of the Ventriglias owns 42 percent shares and is the minority shareholder of the Zambezi Portland Cement. Based on this shareholding pattern, Dr. Rajan Mahtani owned Finsbury Investments is the legal owner of the 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 the only shareholders without having any proof or evidence. 

Furthermore, the judge also shared numerous details associated with the case. The allegations of forgery were completely discarded by the judge as it was confirmed that the process of mechanically placing signatures for business transactions was a common practice in Zambezi Portland Cement. As of now, Dr. Rajan Mahtani is hoping to revive the factory and bring it to its former glory.

Final Announcement On Portland Cement Zambia Case, Finsbury Investments Majority Shareholder

The Court of Appeal recently announced the final judgement on Portland Cement Zambia. The decision was given on 31st January 2019 and by giving the judgement, the Court of Appeal effectively reversed the judgement from the Lusaka High Court judge. Dr. Rajan Mahtani is one of the most respected and popular businessman in Zambia who is noted for his transparent and ethical business practices. For the past ten years, Dr. Rajan Mahtani has been fighting for the legal takeover of his company, Portland Cement Zambia. The case was initially registered at the Lusaka High Court where it went for more than ten years. Despite sharing evidence and testimonials, the final judgement was given against Dr. Rajan Mahtani’s claims which prompted him to approach the Court of Appeal.

 

The Court of Appeal judgement was announced by Justice Mwinde who said that the judge below him was wrong in declaring Ventriglias as the only shareholders without any proof or evidence. As per the decision from the Court of Appeal judge, Dr. Rajan Mahtani who is the owner of the Finsbury Investments is the majority shareholder of Zambezi Portland Cement with 58 percent shares. On the other hand, the Ventriglias are the minority shareholders with only 42 percent shares. This shareholding pattern aligns with the original shareholders agreements which were established in the year 2007. As per this final decision, Finsbury Investments is the legal and actual owner of the Zambezi Portland Cement factory. 

Furthermore, all allegations of forgery were discarded by the judge and it was confirmed that the process of mechanically placing signatures was a common practice in Zambia. 

According To Final Court Decision, Zambezi Portland Cement Belongs To Dr. Rajan Mahtani

For the past decade, Dr. Rajan Mahtani is fighting for legal ownership of the Zambezi Portland Cement which was taken away from him. Dr. Rajan Lekhraj Mahtani is a noted businessman and philanthropist in Zambia which numerous successful business ventures including Finance Bank Zambia, Mahtani Group of Companies and Zambezi Portland Cement. The case of Zambezi Portland Cement was launched at the Lusaka High Court and suffered due to numerous shortcomings of the court and the legal system of Zambia. Despite sharing numerous evidences and reports, Dr. Rajan Mahtani was not given justice at the high court. The judge at the Lusaka High Court was Justice Nkonde, who delivered the last judgement which said that the Ventriglias were only shareholders of the Zambezi Portland Cement. This decision shocked everyone as it was biased and against the interest of the public policies.

As such, Dr. Rajan Mahtani approached the higher Court of Appeal as a last attempt to seek justice. On 31^st January 2019, the judge from the Court of Appeal announced their final decision. While giving their judgement, Justice Mwinde from the Court of Appeal said that the judge below him was wrong in declaring Ventriglias as the only shareholders without any proof or evidence. As per the judgement from the higher Court of Appeal, Dr. Rajan Mahtani owned Finsbury Investments owns 58 percent shares at the factory and is the majority shareholder. On the other hand, Ital Terrazzo Limited which is owned by the Ventriglias have 42 percent share and are the minority shareholders, and are the minority shareholders of the cement factory. Therefore, the legal ownership of the Zambezi Portland Cement goes to Dr. Rajan Mahtani.

Finsbury Investments Announced As Majority Shareholder And Legal Owner Of Zambezi Portland

In the Portland Cement Zambia case, the Court of Appeal declared its last judgment on 31st January 2019. While giving this judgment, the judge at the Court of Appeal viably turned around the judgment at the Lusaka High Court. As per an ultimate conclusion by the Court of Appeal, Finsbury Investments is the lion's share investor of Zambezi Portland Cement with 58 percent shares and Ventriglias were just minority investors with 42 percent shares. Hence, Dr. Rajan Mahtani claimed Finsbury Investments is the legitimate proprietor of the Zambezi Portland Cement plant. Besides, this choice likewise lined up with the first Shareholders Agreement which was built up in the year 2007. While giving this choice, equity Mwinde from the Court of Appeal additionally said that the judge beneath him wasn't right in announcing Ventriglias as the main investors of the Zambezi Portland as this choice was misled and with no appropriate proof or verifiable information.

Regarding the falsification charges, the Court of Appeal expelled the claims completely. It was additionally held that the procedure of mechanical situation of marks crosswise over archives was a typical practice inside the Zambezi Portland Cement. The court likewise shared subtleties that vital individual from the Ventriglia family, Claudio Ventriglia, occupied with comparable work on amid a worldwide business exchange. In that capacity, the charges were disposed of.

Furthermore, a timeline of three months from the date of the judgement has been provided by the Court of Appeal. During this time, all parties are required to complete the process of share regularization as per the latest decision by the court.