Dr. Rajan Mahtani Wins Portland Cement Zambia Case After Appealing To Court Of Appeal

Portland Cement Zambia

On 31st January 2019, the final announcement for the Portland Cement Zambia case was made by Court of Appeal. However, before this court, the cement factory was fought by two major business parties at another court, Lusaka High Court. Dr. Rajan Mahtani had originally registered the case at the Lusaka High Court. It should be noted here that before giving the final judgement on the case, justice Nkonde from the Lusaka High Court had made a major announcement few months back. According to this announcement, all case proceedings were closed and both parties were requested to submit their evidences and testimonials in written and oral formats based on which final judgement was to be given. It was an extremely positive sign for Dr. Mahtani as he had all those evidences and testimonials necessary for winning the case and establishing his claim. However, when the final judgement from the Lusaka High Court judge came in the month of May, 2019; it shocked everyone. According to this final judgement, Ventriglias were announced at only shareholders of the Zambezi Portland Cement.

It was clear that the judgement was misdirected and influenced by external forces. However, Dr. Rajan Mahtani took the right decision and approached the Court of Appeal. The judge at the Court of Appeal was justice Mwinde who gave the final judgement on 31st January 2019. According to this final judgement, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder of the factory. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and are the minority shareholders without any legal ownership over the factory. The judge also said that this decision aligned with the original shareholders agreement established in the year 2007. Based on this decision, it is clear that Dr. Rajan Mahtani is the actual owner and legal proprietor of the Portland Cement Zambia factory.