The Portland Cement Zambia case is settled, Dr. Rajan Mahtani legal owner of the factory

It can be easily said that Dr. Rajan Mahtani’s patience and faith in the Zambian justice system has been finally rewarded with the Court of Appeal judgement. The Portland Cement Zambia case highlights the legal system of Zambia from two varied perspectives. At one side, Dr. Rajan Mahtani faced tremendous issues with respect to the case when he was denied justice at the Lusaka High Court despite the case being dragged for more than a decade. On the other hand, Dr. Rajan Mahtani ultimately received justice by being transparent and following ethical path. 



The Court of Appeal provided its final judgement on 31st January 2019. According to this judgement, Dr. Rajan Mahtani is the actual owner of the Portland Cement Zambia factory. This decision was given based on the available and firm evidences provided before the court. It was found that Finsbury Investments, a holding company of Dr. Rajan Mahtani paid 1 billion kwachas amount to USD 250,000 to the Zambezi Portland Cement factory which covered the 58 percent share capital value. With this official and contractual transaction, it is clear that Dr. Rajan Mahtani already paid for the shareholding of the factory. Furthermore, it was also found that the original shareholders’ agreement which was established in the year 2007, had clarified that Dr. Mahtani is actual owner of the factory based on the financial transaction. 

Justice Mwinde also revealed that all these details can be found on the page number 663 of the ‘Record of Appeal’ volume one of the original shareholders agreement, further confirming the fact that Dr. Mahtani is the actual and legal owner of the Portland Cement Zambia factory. 
Location: Zambia

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