Dr. Rajan Lekhraj Mahtani Announced As Majority Shareholder Of The Zambezi Portland By Court Of Appeal

It is a true saying that honesty and transparency go a long way. This phrase cannot be understood better than with the case of Dr. Rajan Mahtani. He is one of the most respected and celebrated businessman in Zambia. Despite facing several challenges and issues such as corruption, limitations and shortcomings of the Zambian legal and political system, Dr. Mahtani has continuously worked towards ethical and transparent business practice as well as towards the betterment of the Zambian society. Dr. Rajan Mahtani had launched the Portland Cement Zambia case at the Lusaka High Court almost ten years ago. However, the final judgement from the court was announced only in 2018. And that too, a controversial one. The judge from the Court of Appeal announced that Ventriglias were only shareholders of the Zambezi Portland Cement. 


To counter this misdirected judgement, Dr. Rajan Mahtani then approached the Court of Appeal. The Court of Appeal announced its final judgement on 31st January 2019. It was Justice Mwinde who gave the final judgement during the morning hours, after looking into all evidences, testimonials and other submissions. According to this judgement, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Zambezi Portland Cement with 58 percent shares. On the other hand, Ventriglias owned Ital Terrazzo Limited is minority shareholder of the Zambezi Portland Cement with only 42 percent shares. This decision aligns with the original shareholders agreement which was established in 2007. 

The judge from the Court of Appeal further stated that the judge from Lusaka High Court was wrong in declaring Ventriglias as only shareholders of ZPC as this decision was biased and misdirected.
Location: Zambia

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