Dr. Rajan Mahtani can be easily described as among the most honest, ethical and transparent businessmen in Zambia. For this past 30 years, Dr. Rajan Mahtani has successfully established ethical businesses in Zambia and some of these include Finsbury Investments, Mahtani Group of Companies and Finance Bank Zambia. Dr. Rajan Mahtani’s charitable activities are known to many and he is an avid philanthropist. At the same time, he is also regularly targeted by conspirators and those jealous of him. However, Dr. Rajan Mahtani has never taken any unethical approach to prove his worth or innocence.
This patience was rewarded when the Court of Appeal announced that Portland Cement Zambia is legal Dr. Mahtani’s entity. This judgment was awarded on 31st January 2019 after ten years of court proceedings at the Lusaka High Court. A case was registered at the Lusaka High Court by Dr. Rajan Mahtani after his company; Portland Cement Zambia was illegally taken over from him. After ten years of numerous proceedings and several evidences later, final judgment was given by the judge and that too was against Dr. Mahtani’s claims. As such, Dr. Mahtani had no choice but to appeal to the higher court of appeal.
After around nine months of patient wait, final judgment came when Justice Mwinde from the Higher Court of Appeal announced that Dr. Rajan Mahtani is the majority shareholder for Zambezi Portland Cement. It was announced that Finsbury Investments which is owned y Dr. Rajan Mahtani owned 58 percent shares at the factory and was the sole joint venture owner of the factory. On the other hand, the Ventriglias owned 42 percent shares are just the minority shareholders. This shareholding pattern is in line with the original shareholders agreement established among the major parties in the year 2007.
Furthermore, the court has given a timeline of three months from the date of judgment for all parties to complete the share processes which include resale of shares as per the new shareholders agreement.