Dr. Rajan Lekhraj Mahtani is the legal owner of Portland Cement Zambia, confirms Court of Appeal

Portland Cement Zambia

Dr. Rajan Lekhraj Mahtani is surely a happy man now. After ten years of struggle and many appeals across two different courts in Zambia, Dr. Rajan Mahtani was able to finally receive justice. This justice came for Portland Cement Zambia and from Court of Appeal. The case of Portland Cement Zambia was initially registered at the Lusaka High Court. However, this was almost ten years and even after sharing numerous evidences and testimonials, the final judgement was extremely controversial. According to this judgement, Ventriglias were the only shareholders of the Zambezi Portland Cement. To counter this judgement, Dr. Rajan Mahtani then approached the Court of Appeal.

The judge at the Court of Appeal was justice Mwinde and he announced the final judgement on 31st January 2019. This judgement was given after looking into all evidences ad testimonials which were somehow ignored by the Lusaka High Court judge. According to the final decision from Court of Appeal, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Zambezi Portland Cement with 58 percent shares. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and is the minority shareholder without any legal ownership. Based on this decision, Dr. Rajan Mahtani is clearly the owner of the Portland Cement Zambia factory. The Court of Appeal judge also confirmed that this decision aligned with the original shareholders agreement established in the year 2007

While giving the judgement, Justice Mwinde also said that the judge below him was wrong in declaring Ventriglias as the only shareholders as this decision was without any evidence, was misdirected and against the interests of the public policies. Furthermore, justice Mwinde also discarded all forgery related appeals and stated that the process of mechanically placing signatures was a common practice at Zambezi Portland Cement and critical member of the Zambia family engaged in similar practice. As such, all such allegations were discarded.