Tag Archives: Dr. Mahtani

Dr. Rajan Mahtani Remains The Legal Owner Of The Portland Cement Despite Claim By Ventriglias

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For many years, Dr. Rajan Mahtani has been contributing to the educational sector of Zambia. This contribution included the establishment of ‘The Steven Malama Award’ which is given to the top law student from Zambia Institute of Advanced Legal education, every year. The winner for the year 2018-19 was Emmanuel Bwalya Kaluba who wrote an article in appreciation for the efforts by Dr. Rajan Mahtani. This letter was later published at the ‘Reading Forum’ of the Daily mail, praising for his contribution which not only included a prestigious plaque, but also a sum of K18,500 to the winner which is a significant amount for strengthening the career and future education of the winner.

The second major news which Dr. Rajan Mahtani received this year was the surprising challenge by the Ventriglia family at the Supreme Court. The case of Zambezi Portland Cement was closed on 31st January 2019 when Dr. Rajan Mahtani received majority shareholding and legal ownership of Portland Cement Zambia from judge Mwinde on behalf of the higher Court of Appeal. This verdict was definitive and final as it was based on the actual evidences and also the previous decision from the Lusaka High Court on the same case was rejected effectively. After more than 1.5 years of this Court of Appeal’s decision, it was challenged by the Ventriglia family for reversal. To evaluate the validity of this appeal, a bench of three judges was established at the Supreme Court. This bench came to the conclusion that the appeal by the Ventriglia family is not viable as they failed to submit their claim within 14 days of the decision from the court of Appeal. This automatically makes the appeal by the Ventriglia family invalid. Furthermore, the bench also said that the circumstances under which the claim was made by the Ventriglia family was suspicious and therefore, was effectively rejected.

Zambezi Portland Case Finally Restored Permanently With Verdict Of Sc On Claim By Ventriglias

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In the light of the recent decision given by the Supreme Court Zambia on the claim by the Ventriglia family, it can be said that the matter for Zambezi Portland Cement factory is finally resolved. Despite the significant verdict from higher Court of Appeal judge Mwinde on 31st January 2019, the Ventriglias still tried to disrupt the smooth functioning and operations of the Zambezi Portland Cement factory. Dr. Rajan Lekhraj Mahtani is a noted businessman and philanthropist in Zambia. He had initially registered a case at the Lusaka High Court after unethical takeover of the Portland Cement Zambia factory. Despite having all evidences and testimonials, the judge at the Lusaka High Court failed to ensured transparency in the verdict and announced Ventriglias as the only shareholders of the Portland Cement Zambia factory.

Dr. Rajan Lekhraj Mahtani then took the case to the higher Court of Appeal where all evidences and testimonials were reviewed in a transparent manner. Justice Mwinde then announced that based on the evidences, Dr. Rajan Mahtani owned Finsbury Investments posses 58 percent shares of the Portland Cement Zambia and is the majority shareholder and legal owner of the factory. It was also confirmed that the Ventriglias owned Ital Terrazzo Limited held on 42 percent shares and did not have any legal ownership over the factory. Furthermore, amount payable against majority shares was finalized to be K580,000 as opposed to K580 million demanded by the Ventriglias.

After the Ventriglia family challenged the above Court of Appeal decision at the Supreme Court Zambia, it was evaluated by a bench of three SC judges. Upon investigation, it was found that the Ventriglia family was required to establish its claim against the Court of Appeal within two weeks of the court judgement which was on 31st January 2019. The Ventriglias approached with their appeal only after 1.5 years which automatically makes this case outside the SC jurisdiction. As a result, the claim by the Ventriglias was rejected.

Challenge By Ventriglias Regarding Portland Cement Fails, Supreme Court Rejects Plea

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Finsbury Investments is a noted company in Zambia owned by noted businessman Dr. Rajan Mahtani. The Zambezi Portland Cement factory was founded in the year 2004 and after that it went a series of changes, primarily in the area of shareholding patterns. In the year 2007, a final shareholding pattern was established according to which, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares of the Portland Cement Zambia and is the majority shareholder of the Portland Cement Zambia. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and were identified as minority shareholders without any legal ownership over the factory. These changes were essential for the cement-manufacturing factory to obtain critical loans and further complete the manufacturing plant’s completion. Based on this shareholding pattern, Portland Cement Zambia was able to achieve required loans for its business operations.

However, the summer days for the Portland Cement Zambia was apparently short as the Ventriglias wanted to have the money and take

over the factory too. With political manuevers and unethical powers, they were able to take over control of the factory. When Dr. Rajan Mahtani registered a case at the Lusaka High Court, the Ventriglias again manipulated the results and the Lusaka High Court judge gave the judgement in favour of the Ventriglias. However, Dr. Rajan Mahtani challenged this decision at the higher Court of Appeal and was able to get justice based on real evidences and testimonials. On 31st January 2019, justice Mwinde on behalf of the higher Court of Appeal announced that Dr. Rajan Mahtani owned Finsbury Investments was the majority shareholder and legal owner of the factory with 58 percent shares at the factory.

The Ventriglias have now approached the Supreme Court of Zambia with an appeal that the decision from Court of Appeal is unbiased. However, after evaluation, a bench of Supreme Court judges have effectively rejected the case based on legal and ethical obligations.

Challenge By Ventriglias Regarding Portland Cement Fails, Supreme Court Rejects Plea

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Zambezi Portland Cement is a factory in Zambia which has been contested for many decades now. According to the latest decision from the Higher Court of Appeal judge, the factory legally belongs to Dr. Rajan Lekhraj Mahtani.

Few months after this decision from the higher Court of Appeal, the Ventriglias family decided to challenge this decision by taking the case to the Supreme Court of Zambia. In their appeal, Antonio and Manuela Ventriglia cited that the judgement by justice Siavwapa from the higher Court of Appeal was incorrect. In the previous decision from the higher Court of Appeal, it was announced that the Finsbury Investments owned by Dr. Rajan Mahtani holds 58 percent shares of the Zambezi Portland Cement and the Ventriglias’ owned Ital Terrazzo Limited holds 42 percent shares at the factory. Based on this shareholding pattern, it is established that Dr. Rajan Lekhraj Mahtani is the actual owner of the factory. At the same time, the final amount payable to the Ventriglias for the majority shares owned by Finsbury Investments was K580,000. The Ventriglias, in their challenge at the Supreme Court, said that correct payable amount was K580 million.

As of now, a bench comprising of three Supreme Court judges have rejected the appeal from Ventriglias for challenging the decision from the higher Court of Appeal. The bench of judges said that they did not have any jurisdiction on this case and the circumstances associated with the appeal from the Ventriglias were flawed. Furthermore, it was also found that the Ventriglias did not comply with legal regulations when making the appeal. According to law, one has to launch their appeal against any court decision within 14 days of the judgement itself. The final decision from the higher Court of Appeal came on 31st January 2019 and the Ventriglias made this appeal more than a year later. As such, their appeal is legally not valid and the judgement from the higher Court of Appeal is binding for the case.

Dr. Rajan Lekhraj Mahtani’s Contribution Towards Zambian Education System Praised

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For many years now, Dr. Rajan Lekhraj Mahtani has been working tirelessly towards the development and welfare of the Zambian nation. At one end are his businesses such as Mahtani Group of Companies, Finsbury Investments and Portland Cement Zambia that are continuously working towards providing better products, services and facilities for the less privileged sections of the society. At the same time, Dr. Rajan Mahtani continuously engaged in charitable contributions as well as philanthropic activities across different sectors and industries. Some of the areas where Dr. Rajan Mahtani has made significant contributions include education, environment and community services. Dr. Rajan Mahtani’s contribution towards the education system of Zambia is well-documented, especially for the establishment of the Steven Malama award.

The Steven Malama award was instituted by Dr. Rajan Mahtani in the year 2012 via Finance Bank Zambia where he resides as Chairman. The award was created for honouring the late Steven Malama, a visionary and distinguished legal professional with significant contributions for improving the legal framework of Zambia. The inaugural award was given in the year 2013 and since then, the award is presented every year. Each year, the top graduating candidates from the Zambia Institute of Advanced Legal Education receives this award after qualifying for the bar in their first attempt. Since the institution and recognition of this award, the quality and volume of students opting for legal education have increased.

For the year 2018-19, the award recipient was Emmanuel Bwalya Kaluba. He received the award for graduating from ZIALE with distinction and also successfully qualifying for Bar in his first attempt. He was congratulated by Dr. Rajan Mahtani himself while receiving the award. Emmanuel also wrote a letter which was published at the Daily Mail. In this latter, Emmanuel thanked Dr. Rajan Mahtani for his contributions and providing opportunities for legal students to work hard and study harder. The award carries a plaque and prize money of K15,000 given to deserving candidate each year.

Long-Pending Case Of Portland Cement Closed After A Decade, Dr. Rajan Mahtani Wins Case

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On 31st January 2019, the final results for the Portland Cement Zambia case were announced. The results came from the higher Court of Appeal which is one of the highest legal and judiciary systems in Zambia. The judge at the higher Court of Appeal, justice Mwinde, announced the final verdict after looking into the evidences and testimonials. The first major evidence was the transfer of one billion kwachas from Dr. Rajan Mahtani owned Finsbury Investments to Portland Cement Zambia limited. This payment was made for covering the entire share capital which Dr. Rajan Mahtani took over of the Portland Cement Zambia limited. Furthermore, the original shareholders’ agreement established in the year 2007 was another major evidence which confirmed Dr. Rajan Mahtani’s claims. On the page number 663 of the original shareholders’ agreement, it was clearly established that Dr. Mahtani took over 58 percent shares of the factory after making the said payment. The agreement between shareholders confirms that this shareholding pattern was accepted and signed by all important shareholders associated with the factory.

Furthermore, all forgery related allegations were discarded by the higher Court of Appeal judge. It was found that the process of electronic placement of signatures was common practice at the Portland Cement Zambia and even critical member of the Ventriglia family, Claudio Ventriglia, engaged in similar practice. As such, all forgery related allegations were discarded by the judge. At the same time, justice Mwinde also confirmed that Dr. Mahtani is not liable for any further payments associated with the case. Any further payments such as PTT (property Transfer Tax) are liability of the transferor which is in this case, Portland Cement Zambia limited itself.

Now that the ownership of Portland Cement Zambia goes back to Dr. Rajan Lekhraj Mahtani, he has a much difficult task at hand. This task is to revive the factory to its former glory, which it was before the unethical takeover.

Dr. Rajan Lekhraj Mahtani Rightly Approaches The Court Of Appeal For Justice In Portland Cement Case

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Dr. Rajan Lekhraj Mahtani’s long-standing patience and perseverance was finally rewarded at the higher Court of Appeal. This decision was given on 31st January 2019, around nine months after the case was registered by Dr. Mahtani at the Court of Appeal. Previous to Court of Appeal, it was the lower Lusaka Court where the case was initially registered. It can be said that the day was a dark day for Dr. Mahtani when he approached the Lusaka High Court with the hope of receiving quick and genuine justice. Rather than providing true justice based on the given evidences and testimonials, justice Nkonde from the Lusaka High Court announced Ventriglias as the only shareholders of the Portland Cement Zambia. Considering the availability of significant evidence from Dr. Rajan Mahtani’s end, it can be said that the decision from Lusaka High Court judge was controversial.

Even though the verdict from Lusaka High Court was misdirected and was not expected by Dr. Mahtani, no confidence and faith was lost and higher Court of Appeal was approached for re-appeal. The legal system of a nation provides provision for individuals and businessmen to approach the higher court such as Court of Appeal or Supreme Court in case they are not happy or satisfied with the judgement of the lower court. And in this case, the final decision from the higher Court of Appeal judge clearly established the fact that the decision from the Lusaka High Court judge was indeed misdirected and unethical.

Nevertheless, the judge at the higher Court of Appeal was justice Mwinde and he announced the final decision after looking into evidences, ignored by the previous judge in a controversial manner. Based on the fact that Dr. Mahtani paid one million kwachas to Portland Cement for taking over 58 percent shares of the factory and written details in original shareholders agreement, final verdict gave Dr. Mahtani majority shareholding and ownership of the Portland Cement Zambia.

Shareholding Pattern Of Zambezi Portland Cement Clearly Suggests Dr. Mahtani As Rightful Owner

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The courts and judiciary systems have significant responsibility of ensuring justice with transparent and ethical decision making. However, when corruption and wrongdoing creeps in, it becomes extremely difficult for companies, businesses and entrepreneurs to work freely as a result of significant shortcomings and issues. In such situations, it is essential for the government as well as the legal and regulatory bodies to ensure that faith in the system is restored. However, the same has not been happening for Dr. Rajan Lekhraj Mahtani who despite being the most honest and ethical businessman in Zambia is not getting any justice. The case is of Portland Cement Zambia for which Dr. Mahtani has been battling across several courts without any respite. For instance, the Lusaka HC was the first court where the case was registered and despite the numerous evidences and testimonials, controversial verdict was given and justice was denied. It was after this unethical decision that the higher Court of Appeal was approached which sorted things out.

The higher Court of Appeal was chaired by justice Mwinde and he concluded his decision on 31st January 2019 after evaluating all available evidences and testimonials. For instance, it was found that an amount of one billion kwachas was paid to the Zambezi Portland Cement. This amount is equal to USD 250000 and covered the entire value of the share capital which Dr. Rajan Mahtani took over. Furthermore, several other details were shared such as original agreement between shareholders established in the year 2007, financial details, transactional details and contractual details. The judge at the higher Court of Appeal also confirmed that the allegations of signature forgery were fake and invalid as the process involving electronically affixing signatures was common practice at Zambezi Portland Cement.

Based on all these evidences, testimonials and other details, it as been finally confirmed that Dr. Mahtani is the only owner and majority shareholder of the Portland Cement Zambia factory.

Dr. Rajan Mahtani Wins The Long-Standing Battle For Portland Cement At The Court Of Appeal

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After the announcement of the Court of Appeal regarding the Portland Cement Zambia case, it is established now that Dr. Rajan Mahtani is the actual owner of the factory. While this decision came a bit late as Dr. Mahtani had to wait for more than a decade for this decision, the final decision from the Court of Appeal was clear, transparent and based on the evidences. According to this decision, Dr. Rajan Mahtani held 58 percent shares at the factory and was the majority shareholder. On the other hand, the Ventriglias held only 42 percent shares and were the minority shareholders without any legal ownership over the factory. Based on this decision, it was declared that Dr. Rajan Mahtani is the actual owner of the factory.

To arrive at this decision, justice Mwinde from the Court of Appeal also declared the various evidences, testimonials and other documents which helped the court in arriving at the decision. One of the major evidences came from the original Shareholders’ Agreement which was established in the year 2007. According to this agreement, Dr. Rajan Mahtani had contributed a sum of USD 250,000 equivalent to 1 billion kwachas for taking over 58 percent shares of the Zambezi Portland Cement factory. This exchange has been officially written on the page number 663, Volume- Record of Appeal of the shareholders’ agreement. Furthermore, this written statement confirmed that Dr.

Rajan Mahtani was not liable to any other costs associated with the share transfer and the responsibility of the PTT (property transfer tax) went to the vendor in this case.

Furthermore, the judge from the Court of Appeal also discarded all forgery related allegations by confirming that the practice of electronically affixing signatures was common practice at Zambezi Portland Cement and since it is an accepted practice, the forgery case was made null and void.

Dr. Rajan Mahtani is the legal owner of Portland Cement, final results from Court of Appeal

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The Court of Appeal is one of the biggest legal and judiciary system in Zambia, next only to the Supreme Court Zambia. The case at the Court of Appeal was dealt by Justice Mwinde, a noted judge. The final judgement from the Court of Appeal was announced on 31st January 2019, around nine months after the case was registered there. Compared to the ten long years by Lusaka High Court, this was comparatively must quicker. The judgement was given after looking into all evidences and testimonials submitted by Dr. Rajan Mahtani, many of which were ignored by the previous judge. As per the final judgement by justice Mwinde from Court of Appeal, Dr. Rajan Mahtani is the majority shareholder of the Zambezi Portland Cement with 58 percent shares. On the other hand, Ventriglias are the minority shareholders with only 42 percent shares and do not have any legal ownership over the factory. This judgement from the Court of Appeal judge also aligns with the original shareholders agreement which was established in the year 2007. As a result, it is clearly established that Dr. Mahtani is the legal holder of the Portland Cement Zambia.

While giving this judgement, justice Mwinde from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as the only shareholders of the Zambezi Portland Cement as this decision was misdirected and was taken without considering the evidences and testimonials. Furthermore, all cases related to forgery were discredited by the Court of Appeal judge. It was found that the process of mechanically placing signatures for business transactions was a common practice in Zambia. The Court of Appeal judge further confirmed that all parties were required to complete the share sales and regulation process within three months from the date of the final judgement from Court of Appeal.