After 10 Years Of Wait, Dr. Rajan Mahtani Wins Case Of Portland Cement, Announced Legal Owner


The Court of Appeal made a critical decision on 31st January 2019. This decision is related to Zambezi Portland Cement, a cement manufacturing factory which was being contested by two major parties in Zambia. These two parties are Dr. Rajan Lekhraj Mahtani and the Ventriglias. While Dr. Rajan Mahtani has made a name for himself with his transparent and ethical business practices as well as successful business ventures, the Ventriglias are notorious for their unethical business practices. The Zambezi Portland Cement factory case was first registered at the Lusaka High Court and the court proceedings went for more than ten years before the final decision was announced during May 2018. However, the final decision was itself controversial as the judge at the Lusaka High Court announced that the Ventriglias were only shareholders of the Zambezi Portland Cement.
The case was then taken to the Court of Appeal wherein Justice Mwinde announced the final decision. According to this decision, Finsbury Investments which is an entity owned by Dr. Rajan Mahtani holds 58 percent shares at the Zambezi Portland cement factory. This means it is the majority shareholder of the factory. On the other hand, Ital Terrazzo Limited which is an entity owned by the Ventriglias hold 42 percent shares at the factory and is the minority shareholders. This decision aligns with the original shareholders agreement which was established in the year 2007. Therefore, Dr. Rajan Mahtani becomes the legal owner of the cement factory.
All allegations of forgery have been discarded and a timeline of three months have been provided by the Court for completion of share regularization process.

Location: Zambia

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