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.

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.

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.

Judgement From Court Of Appeal Announced, Dr. Rajan Mahtani Owner Of Zambezi Portland

On 31st January 2019, a major announcement was made on the Zambezi Portland Cement. The judge from the Court of Appeal effectively reversed the judgement from Lusaka High Court by giving the full ownership of Zambezi Portland to Dr. Rajan Mahtani owned Finsbury Investments. The Lusaka High Court had given a judgement during May 2018 which was condemned by many. According to the Lusaka High Court judgement, Ventriglias were given ownership of the Zambezi Portland. However, the new judgement from Court of Appeal has cleared things up and now Finsbury Investments holds 58 percent shares at the factory and the Ventriglias hold 42 percent shares at the Zambezi Portland. This clearly gives ownership to Dr. Rajan Mahtani owned Finsbury Investments.

Rajan Mahtani

Unlike Lusaka High Court which announced its judgement without looking into the facts and details, the Court of Appeal shared numerous details and information related to the case to ensure that the public understands how the decision was made. At the same time, several new details were shared during the court proceedings which were made public later. Dr. Rajan Mahtani owned Finsbury Investments have paid a sum of K580,000,000 to the Court of Appeal on 6th February 2019. This amount was paid as commercial registry including interest to comply with the above judgement. Similarly, Finsbury Investments also claimed a sum of K1 billion with interest on the Zambezi Portland factory. This sum was claimed against the share transfers made during January 2007 and December 2006. The share transfers were valid and with this, Finsbury Investments received 58 percent shares at the factory and on the other hand, Ital Terrazzo Limited which is owned by the Ventriglias received 42 percent shares of the total share capital associated with Zambezi Portland Cement. This share capital detail itself is enough to establish the fact that Dr. Rajan Mahtani owned Finsbury Investments is the majority shareholder and legal owner of the Zambezi Portland Cement.

Testimonial From Supreme Court Judge Reveals Rampant Corruption In Zambia

The year 2018 has been significant for Zambian law and governance. One of the major revelations by a Justice from the Supreme Court Zambia revealed numerous facets of the Zambian government as well as legal system. Justice Mumba Malila is an honourable justice at the Supreme Court Zambia with many years of reputable court practice. As a result, his testimony given before the court made significant headlines across the nation.

Dr Rajan Mahtani

The testimony by Justice Mumba Malila revealed large-scale corruption and unethical practices in Zambia. In his testimony, Justice Malila made a disclosure regarding the case of 2012 related to Dr. Rajan Mahtani in which the final decision was given against him. Dr. Rajan Mahtani is a noted businessman in Zambia with several successful ventures such as Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. He is also known for his significant contribution for various philanthropic activities and charitable works. It is also known that he is often attacked by conspirators and unethical parties due to his honest and straightforward business practices and refusal to engage in corrupt and illegal business practices. This case of 2012 was clearly misdirected and influenced by external forces including corrupt yet powerful businessmen and politicians, According to the testimony, the case was considered as against the interests of the public policies. Justice Mumba Malila was the Attorney General during that time and he made several attempts to make the case null and void or ‘nolle prosequi’. However the court and the tribunal did not hear any such requests.

The testimony from a judge sitting at the Supreme Court of Zambia is a clear indication of the level of corruption and unethical practices that has penetrated into the government. However, there is also a ray of hope as testimonies like these will force the government to take stringent actions against those who have been misusing their power as well as clean the government as well as the nation of corruption and unethical practices.

Dr. Rajan Mahtani Not Satisfied With The Lusaka HC judgement, Claims It To Be Misdirected

Zambia is a comparatively small nation with limited number of industries and businesses. Among then, Dr. Rajan Mahtani has successfully carved out a name for himself with his three decades of business ventures as well as transparent business practices. He is in-charge of the some big organizations in Zambia, including Mahtani Group of Companies and Finsbury Investments. Indeed, even with these fruitful businesses, Dr. Mahtani is attempting to get equity because of the Zambian government. For as far back as ten years, Dr. Rajan Mahtani has been battling a case at the Lusaka High Court. This fight in court is for the responsibility for Cement Zambia, a cement producing organization. Amid this controversy, Dr. Rajan Mahtani and his group of legal counsellors have presented various confirmations and evidences. These confirmations have emphatically settled Dr. Rajan Mahtani’s case. A portion of these archives included consented to investor’s arrangement, money related records and a review report directed on the Portland Cement Zambia by a independent auditor which plainly settled the way that Dr. Mahtani was the sole joint endeavour of the manufacturing plant. Indeed, even with these sensible and solid confirmations, fair justice was never given by the court.

Dr Rajan Mahtani

In any case, the last decision made by the judge was a to a great degree horrifying occasion as the decision was given against Dr. Mahtani’s cases. This is unmistakably an instance of misled judgment from the high court. While this decision is surely a major blow for Dr. Mahtani’s understanding, the case isn’t finished yet. Dr. Rajan Mahtani has now documented a case at the higher court of appeal, requesting that the decision made at the Lusaka High Court was unjustified and ought to at any rate be re-examined by the higher court of advance. Answer is anticipated starting at now. The case at the Lusaka High Court is nowhere near end and Dr. Rajan Mahtani is ready to take the case to higher level of government if needed.

Portland Cement’s Final Verdict Raises Further Questions On The Lusaka HC Judgment

Dr. Rajan Mahtani is a famous businessman whose achievements span across three decades. He is known to establish companies that have special focus on the less privileged sections of the society. These include but not limited to Finance Bank Zambia, Finsbury Investments and Mahtani Group of Companies. His company Finance Bank Zambia also won accolades for its achievements in providing a better life for its less privileged customers. Despite these contributions to the nation, Dr. Mahtani is often at the centre of numerous conspiracies and false claims. This is majorly the work of jealous entities and individuals who have personal vendetta from him or are just jealous of his success and popularity among the masses. Never the less, Dr. Mahtani has never involved in similar conspiracies him and maintains an ethical and professional stance in every activity he undertakes.

Dr-Rajan-Mahtani

However, his honest and professional business conducts have not helped much in gaining back the Portland Cement Zambia factory. After the factory was illegally taken from him, a case was launched by Dr. Rajan Mahtani at the Lusaka High Court. In his appeal, Dr. Mahtani shared numerous strong evidences such as signed shareholder’s agreement, financial exhibits as well as independent audit report which clearly stated that the factory was established as a joint venture agreement and Dr. Rajan Mahtani was the sole joint venture partner of the factory. While these evidences were more than enough to prove that Dr. Mahtani is to actual legal owner of the factory, it took more than ten years for the court to arrive at a final decision.

safe_image (3)

Even then, the final verdict raised more questions than solving them. The final verdict was given against Dr. Mahtani claims, and this judgment is completely against the evidence submitted. As such, Dr. Mahtani took immediate steps and appealed to the higher court of appeal against this misdirected judgment at the Lusaka High Court.

Malicious, False, Libellous And Defamatory Articles Published About Dr. Rajan Mahtani

London, United Kingdom September 10, 2018

Dr. Rajan Lekhraj Mahtani (popularly known as Dr. Mahtani) is a Zambian businessman and philanthropist and Chairman of the Mahtani Group of Companies. He has business interests across Africa, Europe and Asia. The Mahtani group includes a large number of Companies and has been built into one of the largest conglomorate in Zambia, employing over 3500 personell and funding more than twenty development projects in Zambia, apart from countless charitable and philanthropic initiatives.

However, his success has naturally been accompanied by a vicious smear campaign, aimed at maligning Dr. Mahtani’s reputation, by vested interests in Zambia, and supported by persons in America and Europe. It is noteworthy, that Dr. Mahtani filed defamation cases in the State of Arizona and State of Minnesota, USA against such publishers of defamatory articles, including Zambiareports.com. The case was resolved between both parties and Zambiareports removed all such articles as they were malicious, defamatory, libellous, false and without any substance.

It has been brought to our notice that certain articles emanating from the removed Zambiareports articles have been copied, reproduced and/or published by various other websites, individuals and online publications.

At Dr. Mahtani’s behest, his attorneys have reached out to those whose contact information was publicly available, while several others which were posted anonymously, remain in the public domain. To those publishing and posting false allegations, which have been proved to be without substance and deliberately  malicious in various Courts of Law in USA, UK, and Zambia, Dr. Mahtani’s USA attorneys Clare Locke LLP, and UK attorneys Gordon Dadds LLP officially advise through their respective letters (attached) Individuals and organization who may which to seek independent clarification may write to them directly. In the absence of which, those indulging in these activities are warned that they do so at their own risk and Dr. Mahtani reserves the right to take appropriate legal action against them.

Dr. Mahtani has worked relentlessly for the upliftment and development of Zambia as a businessman and a philanthropist and has earned an impeccable reputation. He has led numerous businesses in Zambia, Zimbabwe, Malawi, Sierra Leone, Europe and Asia with a primary focus on banking, insurance, property development, financial, manufacturing and investment sectors. His highly successful business and development projects have benefitted the respective Countrys’ economy and improved the standard of living in Zambia and other territories. He holds the importance of integrity, good governance, honesty and lawfulness very dear to him. He takes these false allegations as an attempt to defame and cause harm to not just his businesses, but him personally

Attachments:

1. Letter issued by USA attorneys Clare Locke LLP – https://www.dropbox.com/s/tdz8hamgdva55on/ClareLocke.png?dl=0

2. UK attorneys Gordon Dadds LLP – https://www.dropbox.com/s/sw91sr49tkmehee/Gordan%20Dadds.png?dl=0

Portland Cement Zambia Results Announced, Case Takes New Turn With Appeal By Dr. Mahtani

Portland Cement Zambia is a cement-manufacturing factory which was established by Dr. Rajan Mahtani. During his leadership, the factory flourished significantly with surplus production of cement, making it among the higher cement-producing factories across Zambia. The surplus production also resulted in better revenues, further improving the capital of the company which was directly transferred to the salaries and wages for the employees and workers which were consistently higher than industry-average. As such, the factory also became a preferred place of work for many of the workers within the province.

Dr. Mahtani moves to HC

Then came the situation when two parties started to fight for the legal takeover of the factory. Dr. Rajan Mahtani is a noted businessman, entrepreneur and philanthropist with more than thirty years of business experience in Zambia. He is also the owner of some of Zambia’s biggest corporate names such as Finsbury Investments, Mahtani Group of Companies and Finance Bank Zambia. Dr. Rajan Mahtani has also established numerous businesses in foreign nations, many in developed nations such as United Kingdom and further utilised his contacts established relationships to bring foreign investments in Zambia. He registered the case for the legal takeover of the cement factory almost 10 years back. Since then, the factory has been dragged without any conclusive results. At the same time, this dragging of the case has taken a toll on the factory’s productivity. Without any specific leadership, the factory productivity has gone down significantly. Experts have also suggested that if the factory not given to its rightful leadership, reviving the factory to its original form might become impossible.

As per the shocking final judgment, Dr. Mahtani has lost the case. However, all is not lost for Dr. Mahtani as he has taken the case to higher court where he has appealed against this misdirected judgment at Lusaka HC.