Significant Win For Finsbury Investments And Dr. Rajan Mahtani, Zpc Factory Comes Back Under Dr. Mahtani’s Ownership

It was a significant and emotional win for Dr. Rajan Lekhraj Mahtani when the judge at the Court of Appeal announced that he is the actual owner and majority shareholder of the Portland Cement Zambia factory. Despite having all evidences, testimonials and other details, it took more than a decade for Lusaka High Court to announce its final verdict on the case and even then, it was a controversial one and against Dr. Mahtani’s claims. 



Nevertheless, faith in the Zambian legal and judiciary system as restored when justice Mwinde on behalf of the Court of Appeal announced that Dr. Mahtani is the majority shareholder and legal owner of the Portland Cement Zambia factory. This decision came after looking into all evidences and testimonials. The evidences clearly established that Dr. Mahtani owned Finsbury Investments paid a sum of one billion kwachas or equivalent 250000 US dollars to the Zambezi Portland Cement limited. This amount covered the entire value of the share capital which Dr. Rajan Mahtani owns. Furthermore, the details presented before the court also indicated that Dr. Rajan Mahtani was not liable to any further payments and the responsibility of the PTT (Property Transfer Tax) went to the transferor and not the transferee. Furthermore, justice Mwinde also discarded all forgery related allegations as it was found that electronically affixing signatures was common practice at Zambezi Portland Cement and even an accepted one. As a result, these allegations were found to be baseless.
As a result of these strong evidences, it was finally given verdict that Dr. Mahtani holds majority shares and is legal owner of the Portland Cement factory.
Location: Zambia

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