Portland Cement Zambia Case Resolves For A Final Time, Justice Mwinde Announces Winner Of Case


Dr. Rajan Lekhraj Mahtani is known for his stringent ethical business standings. He is also known for his transparent & straightforward business practices which has resulted in the development of several top companies like Mahtani Group of Companies and Finsbury Investments. He is also the owner and majority shareholder of the Portland Cement Zambia factory for which he fought a legal fight for more than a decade. Just after Dr. Rajan Mahtani successfully established Portland Cement Zambia as one of the premier Portland cement-manufacturing factories, it was unethically taken over. For a period of ten years, Dr. Rajan Mahtani engaged in court proceedings, legal appeals and court cases at the Lusaka High Court with the hope of gaining back ownership of the factory. However, Dr. Rajan Mahtani was met with disbelief when the final results for Portland Cement Zambia was announced. Justice Nkonde on behalf of the Lusaka High Court announced Ventriglia Family as the only shareholders of the factory.

While this decision was certainly met with criticism and disbelief by general public, the Lusaka High Court did not change its verdict which forced Dr. Mahtani to approach the higher Court of Appeal. The judge at the higher Court of Appeal was justice Mwinde and after looking into the evidences, testimonials and legal claims from both sides, announced the final decision for the case on 31st January 2019. This was a quick decision considering it was given in a matter of nine months. While giving his verdict, Justice Mwinde declared that Dr. Mahtani’s payment of one billion kwachas via his company Finsbury Investments to Portland Cement Zambia limited was a legal and official establishment. He further concluded that the contents of the original Shareholders Agreement are original and valid and can be taken as a critical evidence for providing the final verdict. In this agreement, it was clearly established Dr. Rajan Lekhraj Mahtani was owner of 58 percent shares of the factory.

Based on these evidences, Dr. Rajan Mahtani was announced as actual owner of the factory.