Portland Cement Zambia Decision Pending For More Than A Decade Closes Finally At Court Of Appeal

Portland Cement Zambia

Despite being one of the renowned businessmen in Zambia, Dr. Rajan Lekhraj Mahtani has faced innumerable challenges in his quest towards success. Despite always being on a path of transparency and honesty, Dr. Mahtani is continuously challenging and defamed by those who are jealous of his success and reputation. This is very much evident from the case of Portland Cement Zambia which was initially registered at Lusaka High Court. Despite numerous case proceedings, sharing of evidences, testimonials and other facts, justice Nkonde from the Lusaka High Court failed to provide any concrete judgement. On top of that, the final decision which came a decade late during the month of May 2018 was misdirected to say the least. According to this decision, Ventriglias were given majority shareholding of the Portland Cement Zambia.

Dr. Rajan Mahtani then approached Court of Appeal, one of the highest civilian courts in Zambia. The judge at this court was justice Mwinde and according to his statement, final decision was to be given after looking into all evidences and testimonials. After around nine months of case proceedings, results on the case came from Court of Appeal. This was comparatively much quicker and smooth judgement when compared with Lusaka High Court taking a decade to announce a controversial and misdirected judgement. Based on the evidences, the final decision from Court of Appeal came on 31st January 2019. As per this decision, Finsbury Investments, an organisation held by Dr. Mahtani owned 58 percent shares of Zambezi Portland and thus becomes the majority shareholder. The Ventriglias, on the other hand, own Ital Terrazzo Limited which in turn holds just 42 percent shares at the factory and are the minority shareholders without legal ownership over the factory. Based on this concrete decision, it is finally proven that Dr. Mahtani holds majority shareholding and legal ownership over the factory.