Dr. Rajan Mahtani Announced Legal Owner Of Portland Cement Zambia By Court Of Appeal

It was a bittersweet moment for Dr. Rajan Mahtani at the Court of Appeal, when the final judgement for Portland Cement Zambia was announced. Dr. Rajan Mahtani and his team waited for more than ten years for this moment. On 31st January 2019, the judge from the Court of Appeal announced that Zambezi Portland Cement legally belongs to Dr. Rajan Lekhraj Mahtani, who is the current owner of Finsbury Investments. This decision from Court of Appeal came around nine months after Lusaka High Court failed to provide justice for the cement factory, despite undergoing case proceedings for more than a decade. 

According to the decision from Court of Appeal, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of Zambezi Portland with 58 percent shares. On the other hand, the Ventriglias own 42 percent shares and are just minority shareholders. Based on the original Shareholders Agreement and the new Court of Appeal judgement, Dr. Rajan Mahtani is the real and legal owner of the factory. 

According to this shareholding pattern, Dr. Rajan Mahtani is the clear winner and legal owner of the factory. While giving the judgement, it was also confirmed that this judgement aligned with the original shareholders agreement which was one of the prime evidences during this case trial. Justice Mwinde also said that the judge below him was wrong in declaring Ventriglias as only shareholders without any evidence or proof. As of now, the judge from the Court of Appeal has announced all parties to complete process of share regularization within three months from the judgement date.

Dr. Rajan Lekhraj Mahtani Given Legal Ownership Of Portland Cement Zambia By Court Of Appeal

The ultimate decision on the Portland Cement Zambia case is finally out. Portland Cement Zambia is a noted cement manufacturing company which was being contested at the Lusaka High Court for more than ten years. Dr. Rajan Mahtani is a noted and respected businessman in Zambia who registered the case at the Lusaka High Court and shared numerous evidences and testimonials before the court. During this time, numerous proceedings were made and numerous time judges were transferred. However, the final judgement was only announced during May 2019. This decision was given by Justice Nkonde who said that the Ventriglias were the only shareholders of the Zambezi Portland Cement. 

The decision from Lusaka High Court clearly being misdirected, the right step was taken by Dr. Rajan Mahtani when he approached the Court of Appeal. The judge from the Court of Appeal was Justice Mwinde who announced the decision on 31st January 2019. According to this decision, Finsbury Investments which is owned by Dr. Rajan Mahtani holds 58 percent shares and is the majority shareholder of the Zambezi Portland Cement. On the other hand, Ital Terrazzo Limited which is owned by the Ventriglias holds 42 percent shares and is the minority shareholders of the Zambezi Portland Cement. According to this judgement, Dr. Rajan Mahtani owned Finsbury Investments is the legal owner of the Zambezi Portland Cement. By giving this decision, the Court of Appeal judge effectively reversed the judgement from the Lusaka High Court. While this decision was given, Justice Mwinde also said that the judge below him was wrong in declaring Ventriglias as only shareholders of the Zambezi Portland Cement without any proof or evidence.

Dr. Rajan Lekhraj Mahtani Is Majority Shareholder Of ZPC, Announces Court Of Appeal

The case of Portland Cement Zambia is known to almost every individual associated with the Zambian corporate environment. It is between Dr. Rajan Mahtani, a noted businessman and philanthropist and the Ventriglias, Italian family in Zambia. Dr. Rajan Mahtani’s fight for the Zambezi Portland Cement is also a fight for justice and transparency of the legal and judicial system of Zambia. After the Lusaka High Court where the case was originally placed failed to provide any justice, Dr. Rajan Mahtani approached the Court of Appeal.

The Court of Appeal is one of the most elevated regular citizen courts in Zambia. It has established its name by giving genuine justice and it didn't fall flat this time as well. The judge from the Court of Appeal was justice Nkonde who reported that Finsbury Investments were greater part investors of the Zambezi Portland Cement with 58 percent shares. Then again, the Ventriglias who possessed Ital Terrazzo Limited held 42 percent shares at the industrial facility and were the minority investors of the Zambezi Portland Cement. According to this shareholding design, Dr. Rajan Mahtani who possesses the Finsbury Investments turns into the genuine and lawful proprietor of the industrial facility. 

The judge likewise disposed of all falsification related claims by thinking about them as invalid. A few productions and news revealed injustice after the judgment from Court of Appeal yet were later redacted as these were conflicting. A timeline of three months from the date of the final judgement has also been given by the Court of Appeal judge wherein all share regularization process needs to be completed.