As Per The Latest Decision By Lusaka High Court, Dr. Rajan Mahtani Real Owner Of Zambezi Portland


The case of Portland Cement Zambia is finally closed. The case was contended by two major business parties within Zambia- Dr. Rajan Mahtani and the Ventriglias. Dr. Rajan Mahtani is a noted businessman and philanthropist in Zambia with numerous successful business ventures such as Finsbury Investments and Mahtani Group of Companies. He is also the proud owner of several international businesses, some across developed nations such as the United Kingdom. On the other hand, The Ventriglias are infamous for their unethical business practices and use for force for getting business advances. As such it was a surprise for everyone when the Lusaka High Court announced that Ventriglias were only shareholders of the Zambezi Portland Cement. It was a shock to everyone including Dr. Rajan Mahtani who had presented evidences which were strong enough to prove his legal authority over the factory.

However, Dr. Rajan Mahtani did not lose faith on the Zambian justice system and launched another appeal, this time to the Higher Court of Appeal. On 31st January 2019, the Court of Appeal announced its final decision on the Portland Cement Zambia. According to this decision, Dr. Rajan Mahtani owned Finsbury Investments is the majority shareholder of the cement factory with 58 percent shares. The Ventriglias, on the other hand, hold only 42 percent shares at the factory and are minority shareholders. By giving this decision, the judge at the Court of Appeal effectively reversed the judgement given by the Lusaka High Court judge during May last year. Justice Mwinde, who gave the decision at the Court of Appeal, also said that the judge below him was wrong in declaring Ventriglias as only shareholders without having any proof or evidence and that the judgement was against the interests of the public policies.
As of now, a timeline of three months have been provided to all parties during which they are required to finalise the process of share regularization.


Location: Zambia

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