Portland Cement Zambia Case Finalised At The Court Of Appeal, Dr. Rajan Mahtani Wins Case

Dr. Rajan Lekhraj Mahtani is a noted businessman and philanthropist in Zambia. For the past ten years, Dr. Rajan Mahtani has been fighting a case at the Lusaka High Court. This case was for Portland Cement Zambia, a noted cement-manufacturing factory in Zambia. Dr. Rajan Mahtani claimed that Portland Cement Zambia was illegally taken over from him and after that, registered a case at the Lusaka High Court. However, despite sharing numerous evidences, testimonials and factual details, the final decision from the Lusaka High Court judge was extremely controversial. The judge at the Lusaka High Court was justice Nkonde and he announced that Ventriglias were only shareholders of the Zambezi Portland Cement.

To counter this judgement, the case was taken to Court of Appeal which is one of the highest legal and judiciary systems in Zambia. The judge at the Court of Appeal was justice Mwinde, a notable judge at the court. The final decision on the Portland Cement Zambia case was given on 31st January 2019, around nine months after the case was registered there. According to the final judgement, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Portland Cement Zambia 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 of the Portland Cement Zambia factory. Based on this shareholding pattern which aligns with the original shareholders agreement established in the year 2007; it is clear that Dr. Rajan Mahtani is the actual owner of the Portland Cement Zambia factory.

Furthermore, justice Mwinde from Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders of the Zambezi Portland Cement as this decision was misdirected and without any evidence. Furthermore, all allegations of forgery have been discarded by the judge and timeline of three months have been awarded for completing the share sales processes.