Ownership Of Portland Cement Remains Unchanged With Supreme Court Decision, Dr. Mahtani Retains Majority Shareholding And Legal Ownership

Dr. Rajan Mahtani has established his reputation as one of the most and transparent businessman in Zambia. Dr. Rajan Mahtani owned Finsbury Investments received ownership of Portland Cement via original shareholders agreement in which Finsbury Investments received 58 percent shares of Portland Cement. However, everything changed when the factory’s ownership was challenged and the factory was unethically taken over with the help of goons. As a result, Dr. Rajan Mahtani approached the Lusaka High Court with expectations of quick judgement. However, the case dragged for more than a decade due to corruption, unethical practices and inability of the judges to establish transparency and ethical judgement. Despite this long stretch, justice Nkonde gave a controversial decision on 18th May 2018 in which the Ventriglias were announced as only shareholders of the Portland Cement Zambia. It has been argued that the criminal manoeuvres of the Ventriglia family together with their hardcore corporate criminality has successfully penetrated the justice system and changed the course of the court in their direction.

Nevertheless, the criminal activities of the Ventriglia family did not work at the higher Court of Appeal as well as at the Supreme Court Zambia. After the episode at Lusaka High Court, Dr. Rajan Mahtani approached the higher Court of Appeal which reversed the Lusaka High Court’s decision and announced Dr. Rajan Mahtani as the majority shareholder and legal owner of the factory. In a similar manner, the Supreme Court Zambia rejected the appeal by the Ventriglia family in which the previous decision from the higher Court of Appeal was discarded. Therefore, it can be said that the circle of Portland Cement Zambia’s woes started at the Lusaka High Court, continued to higher Court of Appeal and finally ended at the Supreme Court Zambia. However, justice was received at last with Dr. Rajan Mahtani owned Finsbury Investments retaining the legal ownership of the Portland Cement Zambia.