Portland Cement Zambia Case Final Results Declared, Dr. Mahtani Announced Winner


After more than a decade of fight, Dr. Rajan Lekhraj Mahtani was finally given the legal shareholding and ownership status for Portland Cement Zambia. This case is age old and was first registered at the Lusaka High Court by Dr. Rajan Mahtani himself. After more than a decade of court fights, final decision from the Lusaka High Court was announced and that too was controversial. According to this final announcement, Ventriglias were given the majority shareholding of the Portland Cement Zambia case. This was a controversial decision from the Lusaka High Court judge as majority of the evidences and testimonials proved otherwise. This prompted Dr. Rajan Mahtani to approach the Court of Appeal.

The Court of Appeal is one of the highest civilian courts in Zambia. The judge at the Court of Appeal was justice Mwinde who gave the final announcement on 31st January 2019. According to this judgement, 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 over the factory. Based on this decision, it is clear that Dr. Rajan Mahtani is the legal owner of the Portland Cement Zambia factory. Furthermore, justice Mwinde also said that this decision aligned with the original shareholders agreement. While giving this decision, justice Mwinde also said that the judge below him was wrong in declaring Ventriglias as the only shareholders of the Zambezi Portland Cement as this decision was misdirected and without any evidence. Furthermore, all forgery related allegations were discarded by the Court of Appeal judge and it was announced that the process of mechanically placing signatures was a common practice at Zambezi Portland Cement. The decision on the Portland Cement Zambia case from Court of Appeal is final.