After Numerous Court Appeals, Dr. Rajan Mahtani Wins The Case At The Court Of Appeal

Dr. Rajan Lekhraj Mahtani is a noted businessman in Zambia. For the past three decades, Dr. Rajan Mahtani has been fighting a case at the Lusaka High Court. This case has been for the legal takeover of the Portland Cement Zambia factory, a noted cement manufacturing factory which Dr. Rajan Mahtani claimed was illegally taken over from him. The case proceeded at the Lusaka High Court for more than a decade after which the final decision was given by justice Nkonde. However, this final decision was extremely controversial as Ventriglias were announced as only shareholders of the Zambezi Portland Cement. To counter this judgement, Dr. Rajan Mahtani then took the case to Court of Appeal. 

The Court of Appeal is among the highest level judiciary system in Zambia. The judge at the Court of Appeal was justice Mwinde who gave the final judgement on 31st January 2019. According to this judgement, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Portland Cement Zambia with 58 percent shares. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and is the minority shareholder without any legal ownership over the factory. The Court of Appeal judge confirmed that this decision aligned with the original shareholders agreement established in the year 2007. Furthermore, justice Mwinde also said that the judge below him was misdirected while making decision at the Lusaka High Court. 

A timeline of three months from the date of the judgement at the Court of Appeal has been provided, during which all share sales and regulations related activities must be completed.
Location: Zambia

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