Portland Cement Zambia Case Finally Over, Dr. Mahtani Wins Case At The Court Of Appeal

Court of Appeal has finally announced the results for the Portland Cement Zambia case. The case of Portland Cement Zambia is chronic and signifies the numerous shortcomings of the Zambian legal system. It was established by Dr. Rajan Lekhraj Mahtani, a noted businessman and philanthropist in Zambia with numerous successful businesses under his name. Some of these companies are Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. Dr. Rajan Mahtani registered the case of Portland Cement Zambia at the Lusaka High Court almost ten years ago, when the cement-manufacturing factory was illegally taken over from him. Since then, Dr. Mahtani fought a one-man army against corruption and unethical practices to win over his own factory. However, the Lusaka High Court failed to give right justice to Dr. Rajan Mahtani as the judgement was misdirected. 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 misdirected judgement, Dr. Rajan Mahtani then approached 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 announced the final judgement on 31st January 2019. According to this judgement, Dr. Rajan Mahtani is the majority shareholder of the Zambezi Portland Cement factory as his company Finsbury Investments holds 58 percent shares at the factory. On the other hand, Ventriglias are the minority shareholders of the Zambezi Portland Cement as their company; Ital Terrazzo limited holds just 42 percent shares at the factory. The judge at the Court of Appeal also said that this decision aligns with the original shareholders agreement which was established in the year 2007. Based on this decision, Dr. Rajan Mahtani is the legal owner of the factory.

A timeline of three months from the date of the judgement was given by the court during which all shares related activities must be completed.