Dr. Rajan Mahtani Has Been Finally Announced As Majority Shareholder And Legal Owner Of PCZ

31st January 2019 was a significant day for Dr. Rajan Mahtani and his business career. In a final event, Justice Mwinde was able to knock down the criminal intentions of the Ventriglias by giving an ethical and much-awaited judgement. Dr. Mahtani is a noted businessman in Zambia with numerous successful business ventures, some of them including Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. He is also known for his successful ventures outside Zambia, such as in United Kingdom. Despite his numerous successes, Dr. Mahtani has always struggled to maintain a composed and smooth business in Zambia. This is majorly due to the various incompetencies within the Zambian political, legal and environmental system. The biggest example is the case of Portland Cement Zambia for which Dr. Rajan Mahtani fought for more than a decade. The case was initially registered at the Lusaka High Court where it took more than ten years to announce their judgement. Despite this long tenure, the final decision from the Lusaka High Court was extremely controversial as the judge announced Ventriglias as only shareholders of the Zambezi Portland Cement.

As a result, Dr. Rajan Mahtani then approached the Court of Appeal. The judge at the Court of Appeal was justice Mwinde who announced the final decision on 31st January 2019 after looking into all evidences and testimonials. As per this final judgement, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at Portland Cement and is thereby majority shareholder. Similarly, Ital Terrazzo Limited is an entity owned by the Ventriglias and is the minority shareholder as it holds only 42 percent shares at the factory. Based on this shareholding pattern, Dr. Rajan Mahtani becomes legal owner of the factory. Justice Mwinde, while sharing this judgement, also said that the judge below him was wrong in declaring Ventriglias as only shareholders as this decision was misdirected and without any evidence.

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