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.