Dr. Rajan Mahtani Announced As Majority Shareholder And Legal Owner Of Portland Cement Zambia

After more than ten years of wait and two different court judgements, Dr. Rajan Mahtani can finally say that justice has been served. This wait pertains to Portland Cement Zambia case, for which Dr. Mahtani has been fighting for a long time. Time case was first registered at the Lusaka High Court where it went for more than a decade as a result of the various challenges and shortcomings of the Zambian legal system. During this time, Dr. Rajan Mahtani who complained to the Lusaka High Court shared numerous evidences, testimonials as well as factual data to prove his claim over the factory. Few months before the final announcement, the judge at the Lusaka High Court gave a positive hope to Dr. Mahtani by announcing that the final decision will be given after looking into the evidences, written and oral testimonials only and no further case proceedings will be entertained. This was major positive news for Dr. Rajan Mahtani as his evidences and testimonials were more than enough to prove Dr. Mahtani’s legal ownership over the factory. However, everyone received a shock when the judge at the Lusaka High Court announced that Ventriglias were only shareholders of the Zambezi Portland Cement.

Knowing that this decision was biased, Dr. Rajan Mahtani then approached the Court of Appeal. The final decision from Court of Appeal came on 31st January 2019. According to this decision, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Zambezi Portland Cement with 58 percent shares at the factory. On the other hand, the Ventriglias owned Ital Terrazzo Limited holds 42 percent shares at the factory and is the minority shareholder. By giving this judgement, justice Mwinde from Court of Appeal effectively reversed the judgement from the Lusaka High Court judge. Based on this decision, Dr. Rajan Mahtani is the legal owner of the Zambezi Portland Cement factory.

Dr. Rajan Mahtani Is The Rightful Owner Of The Portland Cement Zambia, Confirms Court Of Appeal

The Court of Appeal is one of the highest civilian courts in Zambia. On 31st January 2019, the Court of Appeal announced its final decision on the Portland Cement Zambia case. This case is related to two major business houses in Zambia. One of them is Dr. Rajan Mahtani, noted businessman and philanthropist with numerous successful businesses in Zambia. After his factory, Portland Cement Zambia, was illegally taken away from him, he filed a complaint at the Lusaka High Court. Despite sharing numerous evidences and testimonials, Dr. Rajan Mahtani never received justice as the final decision from Lusaka High Court judge was shocking. According to this final decision, Ventriglias were announced as only shareholders of the Zambezi Portland Cement. To counter this judgement, Dr. Rajan Mahtani took the case to Court of Appeal.

Zambezi Portland Cement

According to the final decision of the Court of Appeal, Dr. Rajan Mahtani owned Finsbury Investments is the majority shareholder of the Zambezi Portland Cement with 58 percent shares. At the same time, Ventriglias owned Ital Terrazzo Limited is the minority shareholder of the Zambezi Portland Cement with only 42 percent shares. Based on this shareholding pattern, Dr. Rajan Mahtani automatically becomes the majority shareholder of the Zambezi Portland Cement factory. This decision from the Court of Appeal also aligns with the original shareholders agreement which was established in the year 2007. While giving this decision, the judge from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders as this decision was biased and misdirected.

All forgery allegations were discarded and three months were given to complete the share regularization process. After the final judgement from the Court of Appeal, publications and reports were released contrasting the judgement from the Court. However, these publications were found to be inconsistent and were later redacted.

Legal Ownership Of Zambezi Portland Cement Announced By Court Of Appeal, Dr. Mahtani Winner

Dr. Rajan Mahtani is a noted business figure in Zambia with numerous successful ventures. Some of the companies established by him are Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. He is also the legal owner of the Zambezi Portland Cement for which he has been fighting a case at the Lusaka High Court for the past ten years. Last year, justice Nkonde from the Lusaka High Court gave the final verdict on the case. The months leading up to this verdict seemed positive for Dr. Rajan Mahtani as the judge announced that the final decision will be given based on the evidences as well as written and oral testimonials submitted before the court. Since Dr. Rajan Mahtani had shared all factual evidences and testimonials, win at the Lusaka High Court was sure.

However, the final verdict from the Lusaka High Court was shocking as it was announced that Ventriglias were only shareholders of the Zambezi Portland Cement. To counter this misdirected judgement, Dr. Rajan Mahtani then approached the Court of Appeal. The Court of Appeal judge was justice Mwinde who announced the final verdict on 31st January 2019. According to this final verdict, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Zambezi Portland Cement with 58 percent shares. On the other hand, the Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares and is the minority shareholder of the Zambezi Portland Cement. Based on this shareholding pattern, Dr. Rajan Mahtani becomes the legal owner of the Zambezi Portland Cement factory.

With this decision, the judge from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders of the Zambezi Portland without any proof or evidence. Furthermore, the judge also discarded all forgery related allegations by considering them invalid and also gave a timeline of three months for completion of share regularization activities.

Court Of Appeal Gives Back Rightful Ownership Of Portland Cement To Dr. Rajan Mahtani

The case of Portland Cement Zambia is age old. It was registered by Dr. Rajan Mahtani, almost a decade back at the Lusaka High Court. Dr. Rajan Mahtani is known for several big and successful business ventures in Zambia, including but not limited to Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. Dr. Rajan Mahtani had claimed that his factory, Zambezi Portland Cement, was illegally and forcefully taken away from him which prompted the case at the Lusaka High Court. To support his claim, Dr. Rajan Mahtani has shared numerous evidences and testimonials in the past ten years of court proceedings. The case was delayed for such as long time majorly because of the inability of the court to provide right judgement on time as well as due to several judges being transferred at frequent intervals. Finally, justice Nkonde announced the ultimate judgement after a wait of ten years. However, this judgement turned out to be more controversial than the never ending court proceedings itself.

Dr. Rajan Mahtani

Justice Nkonde announced that the Ventriglias were only shareholders of the Zambezi Portland Cement. It was clear that this judgement was misdirected and as a result, Court of Appeal was approached for further justice. The judge at the Court of Appeal was justice Mwinde who announced the final judgement on 31st January 2019 during the morning hours. According to this judgement, Finsbury Investments is majority shareholder of Zambezi Portland Cement and holds 58 percent shares at the factory. On the other hand, Ventriglias are only minority shareholders of the Zambezi Portland Cement with 42 percent shares at the factory. With this shareholding pattern, it is clearly established that Dr. Rajan Mahtani is legal owner of the factory. This decision from the Court of Appeal also aligns with the original shareholders agreement which was established in the year 2007.

Furthermore, the judge from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders without any proof or proper evidence.

The Zambian Justice System Finally Delivered With The Right Judgement From Court Of Appeal

The Court of Appeal announced its final decision on the Zambezi Portland Cement on 31st January 2019. According to this decision, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares and is the majority shareholder of the Zambezi Portland Cement. On the other hand, Ventriglias owned Ital Terrazzo Limited holds 42 percent shares and is only a minority shareholder of the cement manufacturing factory. With this decision, the judge from the Court of Appeal effectively reversed the judgment from the Lusaka High Court and also announced that the judge below him was wrong in declaring Ventriglias as the only shareholders without any evidence or proof. This judgment from Justice Mwinde of Court of Appeal came around nine months after May, 2018, wherein the Judge from the Lusaka High Court announced that Ventriglias were only shareholders of the Zambezi Portland Cement. However, this decision was misdirected and influenced by several external forces which prompted Dr. Mahtani to approach Court of Appeal.

Dr. Rajan Mahtani

During this decision making, Justice Mwinde from the Court of Appeal also shared some intricate details related to the case. Finsbury Investments made a payment of a sum of K580,000,000 to the Zambian court. This amount was paid on 6th February 2019 with interest to comply with the said decision of the Court. This payment was made for commercial registration. At the same time, Dr. Rajan Mahtani owned Finsbury Investments has also claimed a sum of K1 billion with interest on the Zambezi Portland Cement. This payment and interest has been claimed against the entire share capital issued of the Zambezi Portland Cement. Furthermore, the Court of Appeal also confirmed these share transfers with proper documentation and dates which were during January 2007 and December 2007. Thus, the claims made by Finsbury Investments have been validated and as a result, Finsbury Investments holds 58 percent shares and Ital Terrazzo Limited holds 42 percent shares of the total issues Zambezi Portland Cement share capital.

Winner Of The Zambezi Portland Cement Case At The Court Of Appeal Announced

Justice Mwinde from the Court of Appeal made the final decision on the Portland Cement Zambia case on 31st January 2019. This decision was made almost nine months after Lusaka High Court gave its final judgement on the case. The case, which was registered by Dr. Rajan Mahtani, went on for more than a decade. Justice Nkonde was the judge announcing the final decision and he said that the Ventriglias were only shareholders of the Zambezi Portland Cement. This judgement was extremely controversial which prompted Dr. Rajan Mahtani to approach Court of Appeal for right justice.

Portland Cement Zambia

The Court of Appeal announced its decision on 31st January 2019. According to this decision, Dr. Rajan Mahtani owned Finsbury Investments is the majority shareholder of the Zambezi Portland Cement with 58 percent shares. On the other hand, the Ventriglias owned Ital Terrazzo Limited is the minority shareholder of the Zambezi Portland Cement with 42 percent shares. This shareholding pattern clearly establishes the fact that Dr. Rajan Mahtani is the legal owner of the factory.

During this judgement, Justice Mwinde also revealed some interesting details associated with the case. It was revealed that Finsbury Investments had paid a sum of K580,000,000 with interest to the Court on 6th February 2019. This payment was made for commercial registration of the factory under the clause number 2008-HPC-366. This payment was made to comply with the judgement from the Court. With this, Finsbury Investments also made a claim of K1 Billion with interest against payment made for entire share capital issues of the Zambezi Portland Cement. This share capital was further confirmed by the Court of Appeal with the evidence of share transfers made during December 2006 as well as January 2007. Therefore, Finsbury Investments is soon expected to win this claim too. While some publications and news tried to spread negative and false reviews of this Court of Appeal decision, these publications were found to be inconsistent and soon vanished.

Court Of Appeal Delivers True Justice For The Zambezi Portland Cement With Its Decision

For the past one decade, Zambezi Portland Cement has been at the centre of the corporate scandals. It is a noted cement-manufacturing company which was founded under the leadership of Dr. Rajan Lekhraj Mahtani, a noted businessman and philanthropist in Zambia. In a span of three decades, Dr. Mahtani has established a string empire of successful businesses along with reputation of being one of the most transparent, ethical and honest businessman in Zambia. Some of his top companies are Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. For the past ten years, Dr. Rajan Mahtani has been fighting for the legal takeover of the Zambezi Portland Cement. During this long tenure, he shared numerous evidences and testimonials which experts suggested were more than enough to prove his legal ownership over the factory. As a result, it was shocking for everyone when the judge at the Lusaka High Court announced that Ventriglias were only shareholders of the Zambezi Portland Cement. Dr. Mahtani was left with no choice but to approach the Court of Appeal.

Portland Cement Zambia

The Court of Appeal announced its final judgment on 31st January 2019. According to this final judgment, Finsbury Investments is majority shareholder of Zambezi Portland Cement with 58 percent shares. On the other hand, Ital Terrazzo Limited which is owned by the Ventriglias family holds 42 percent shares and is the minority shareholder. Accordingly, the legal ownership of the factory goes to Dr. Mahtani who is the owner of the Finsbury Investments. This decision is in line with the original Shareholders Agreement established in the year 2007. Furthermore, the judge at the Court of Appeal also condemned the decision by the Lusaka High Court by saying the judgment was morally wrong.

As of now, all parties are required to regularize the process of sales of shares as per the decision by the Court of Appeal and the process must be completed within three months.

Final Judgement On Zambezi Portland Cement Announced, Dr. Rajan Mahtani Emerges As Winner

Dr. Rajan Mahtani has been fighting for the legal takeover of the Zambezi Portland Cement for more than ten years. First, it was the Lusaka High Court where the case was registered, almost ten years back. The final decision by the Lusaka High Court judge was announced during May 2018. However, this decision by the Lusaka High Court judge shocked everyone as despite evidences stating otherwise, the judge announced that Ventriglias were only shareholders of the Zambezi Portland Cement. As such, Dr. Rajan Mahtani took the right decision and approached the Court of Appeal in Zambia.

Dr. Rajan Mahtani

The Court of Appeal announced its decision on 31st January 2019. According to this decision, Dr. Rajan Mahtani was the legal and authentic owner of the Zambezi Portland Cement factory with majority of the shares. The judge, Justice Mwinde, also said that the judge below him was wrong in declaring Ventriglias as the only shareholders without looking into the evidences and the testimonials. The judgement from the Court of Appeal also aligns with the original shareholders agreement established in 2007.

As per the decision by the Zambian Court of Appeal which was given on 31st January 2019, Finsbury Investments has paid a sum of K 580,000,000, pre-rebased with interest. This sum has been given for commercial registration of the factory and in compliance with the judgement. In a similar manner, Finsbury Investments also made claims of K1 billion with interest on the Zambezi Portland Cement. This claim is made for payment made on 27th July 2005 which was for entire share capital issues for Zambezi Portland Cement. According to the further confirmations of the Court of Appeal, share transfers made during January 2007 and December 2006 are valid and as such, Finsbury Investments holds 58 percent shares as well as Ital Terrazzo Limited holds 42 percent shares of the total share capital issues for Zambezi Portland Cement.

Dr. Rajan Lekhraj Mahtani Announced Real Owner Of Zambezi Portland By The Court Of Appeal

Despite several unethical attempts by the criminal masterminds of the Zambezi Portland Cement case, real justice was given by the Court of Appeal. This judgement came on 31st January 2019 after around nine months of waiting from Dr. Rajan Mahtani. The case of Zambezi Portland Cement is age old and was registered almost ten years back when it was illegally taken from Dr. Mahtani. It was approached at the Lusaka High Court and despite sharing several factual details and evidences, the final decision from the judge at the High Court was nothing less than surprising. The Justice at the Lusaka High Court was Judge Nkonde and he held that Ventriglias were only shareholders of the Zambezi Portland. However, this decision was contested by Dr. Rajan Mahtani who then approached the Court of Appeal.

Zambezi Portland Cement

The justice at the Court of Appeal was Justice Mwinde, who on 31st January 2019 effectively reversed the flowed judgement given at the Lusaka High Court. According to the judge at the Court of Appeal, Dr. Rajan Mahtani owned Finsbury Investments owns 58 percent shares at the Zambezi Portland factory and is the majority shareholder. On the other hand, Ventriglias owned Ital Terrazzo Limited hold 42 percent shares at the factory and are minority shareholders. This means Finsbury Investments and Dr. Rajan Mahtani are the owner of the factory and the Ventriglias have no ownership over it. Furthermore, the judgement given at the Court of Appeal aligns with the original Shareholders Agreement entered during establishment of the factory in 2007.

Furthermore, all forgery allegations established against Dr. Mahtani and Finsbury Investments have been discarded by the judge. It was established that the process of mechanically placing signatures for business transactions was a common approach in Zambezi Portland Cement and important Ventriglia family members have engaged in similar practice. As such, the allegations were not valid.

Finsbury Investments Wins Case At The Court of Appeal, Given Majority Shareholding Of Zambezi Portland

Justice may be late but always arrives for those who are ethical, honest and transparent. Dr. Rajan Mahtani had waited patiently for more than a decade for justice in case of Zambezi Portland Cement. However, despite sharing numerous evidences and testimonials, the final judgement at the Lusaka High Court was given against Dr. Mahtani’s claims. As such, Dr. Mahtani took the right step in approaching Court of Appeal for further judgement.

The Court of Appeal, on 31st January 2019, gave its final judgement on Zambezi Portland Cement. This judgement came almost 9 months from the decision given by Lusaka High Court. This decision at Court of Appeal was given by Justice Mwinde who also said that the judge below him was wrong in declaring Ventriglias as only shareholders without evidence.

Zambezi Portland Cement

As per the decision by Court of Appeal, Finsbury Investments which is owned by Dr. Rajan Mahtani holds 58 percent shares and is majority shareholder of Zambezi Portland. On the other hand, Ventriglias owned Ital Terrazzo Limited owned 42 percent shares at the factory and are minority shareholder of the factory. This decision is aligned with original Shareholders Agreement which was established in the year 2005.

During the court proceedings, several details were shared related to the case. It was found that Finsbury investments had paid a sum of K580,000,000 to the court along with interest in compliance with the Zambian High Court. Along with it, Finsbury Investments has also claimed a sum of K1 billion with interest on the Zambezi Portland Cement against payment made on the 27th of July 2005. This claim has been made against the entire share capital issues for Zambezi Portland Cement. It was also confirmed by the Court of Appeal that share transfers in the year 2006 and 2007 were valid. As a consequence of this, Finsbury Investments holds 58 percent shares at the factory and are majority shareholders. Ventriglias are minority shareholders with 42 percent shares and have no right over the factory. Based on this fact alone, Dr. Rajan Mahtani owned Finsbury Investment is the sole owner of the factory.