The Lusaka High Court recently announced its final verdict on Portland Cement Zambia. It is one of the oldest running corporate cases within the high court. The case of Portland Cement Zambia was registered by Dr. Rajan Lekhraj Mahtani, a noted businessman, social worker and philanthropist. Dr. Mahtani is associated with numerous successful businesses in Zambia such as Finsbury Investments, Mahtani Group of Companies and Finance Bank Zambia. His success outside of Zambia includes establishment of companies in some of the developed economies such as United Kingdom. This has further helped him in bringing foreign investments within the nation.
As a result, the final verdict was shocking for Dr. Rajan Mahtani as well as the entire Zambian corporate industry. It is a well known fact that the factory was established by Dr. Rajan Mahtani. To prove this, Dr. Mahtani and his lawyers have submitted numerous documents and evidences during the long trial of ten years at the Lusaka High Court. Some of the strongest evidences included signed shareholder’s agreement, testimonials from significant individuals associated with the factory, financial and investment reports as well as audit report which clearly stated that the factory was established as a joint venture and Dr. Rajan Mahtani was the sole joint venture partner. The judge overseeing the case also made a positive announcement by declaring closure of case hearing and providing the final judgment based on the evidences and testimonials submitted by both parties.
As a result, it was shocking to see that the final judgment was given against Dr. Rajan Mahtani’ claims. This further prompted Dr. Mahtani to take against and launch another appeal to the higher court of Zambia against this misdirected judgment at the Lusaka High Court. Dr. Rajan Mahtani is known for his honesty and professionalism and he is not the type to back out when proper justice has not been given.