Dr. Rajan Mahtani Is The Legal Owner Of Portland Cement, Final Results From Court Of Appeal

Dr. Rajan Mahtani is a noted businessman and philanthropist in Zambia. He is known for numerous successful businesses and ventures in Zambia including Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. Another company which is currently under conflict is Portland Cement Zambia. The case of Portland Cement Zambia was established at the Lusaka High Court after Dr. Rajan Mahtani claimed that the factory was illegally taken over from him. The case proceedings went on for more than a decade during which, numerous evidences and testimonials were provided by the lawyers from Dr. Rajan Mahtani. However, the final decision from the Lusaka High Court judge was extremely conflicting. The judge at the Lusaka High Court was justice Nkonde who gave the final judgement that Ventriglias were only shareholders of the Zambezi Portland Cement.

Portland Cement Zambia

To counter the misdirected judgement from Lusaka High Court, Dr. Raja Mahtani then approached the Court of Appeal. The Court of Appeal is among the highest court system in Zambia and it was expected that the court will provide the right judgment. And the Court of Appeal did not disappoint. The judge at the Court of Appeal was justice Mwinde who gave the final judgement on 31st January 2019. According to this final 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 holds just 42 percent shares at the factory and is the minority shareholder without any legal ownership over the factory.

Based on this decision from the Court of Appeal, it is clear that Dr. Rajan Mahtani is the majority shareholder and legal owner of the factory. The judge also gave a timeline of three months from the date of the judgement during which all share sales and regulations related activities must be completed.

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