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.