Tag Archives: Dr Rajan Mahtani

Claim By The Ventriglia Family Identified As Controversial At Supreme Court, Rejected

Posted on by
Reply

After the unethical takeover of the Zambezi Portland Cement by the Ventriglia family, a case was registered at the Lusaka High Court with expectations of quick decision. However, Finsbury Investments had to ensure significant losses due to the unethical and misdirected decision from the Lusaka High Court which came after more than a decade of dragged case proceedings. The reappeal at the higher Court of Appeal by Finsbury Investments was a success as judge Mwinde on behalf of the higher Court of Appeal declared Dr. Rajan Mahtani as the majority shareholder and legal owner of the factory. However, the Ventriglia family once again decided to go against the law and despite the sound and ethical verdict from the higher Court of Appeal, decided to challenge it at the Supreme Court. This resulted in creation of a bench of three judges at the Supreme Court Zambia for evaluating the claim by the Ventriglia family. After evaluation, the judges found that the Ventriglias failed to comply with a critical aspect of the law which requires that any appeal against a previous court decision must be made within 14 days of the court decision itself. In this case, the decision from the Court of Appeal came on 31st January 2019 and this means the Ventriglia family was required to make their appeal within 14 days of the above court verdict. However, the Ventriglia family came up with their claim more than 16 months later which makes the Supreme Court judges extremely suspicious of the circumstances under which the claim was made. As a result, the SC judges gave their final verdict and confirmed that they are rejecting the appeal by the Ventriglia family as the case was outside of the jurisdiction of the Supreme Court and the evidences surrounding the case were controversial for any further action. As such, Dr. Rajan Mahtani owned Finsbury Investments has further confirmed its position as the only majority shareholder and legal owner of the Zambezi Portland factory.

Supreme Court rejected appeal by Ventriglias and announced Dr. Mahtani as owner of Zambezi Portland

Posted on by
Reply

The case of Portland Cement Zambia was over after more than a decade of case proceedings. The final decision came from higher Court of Appeal on 31st January 2019 in which justice Mwinde reversed the decision from the Lusaka High Court given on May 2018. Furthermore, justice Mwinde also said that Dr. Rajan Mahtani is the majority shareholder and legal owner of the Portland Cement factory with 58 percent shares. On the other hand, the Ventriglias owned Ital Terrazzo Limited holds 42 percent shares and is the minority shareholder without any legal ownership over the factory.

The Ventriglia family once again tried to emulate the events from the Lusaka High Court thinking that they will be able to influence the SC judgement as well. However, the transparent and ethical roots of the Supreme Court go extremely deep and the Ventriglias failed to realise the fact that Supreme Court is the biggest legal entity of a nation, a face of the nation’s legal system. After evaluation, the Supreme Court judges clarified that the claim by the Ventriglias do not have any legal acceptance in the SC as it did not follow the rule according to which any claim against previous court decision must be made within 14 days of the date of the court decision itself. In this case, the Ventriglias failed to comply with this critical legal requirement and launched their appeal more than 15 months later. As such, the bench of three judges at Supreme Court evaluating this claim confirmed that they had no legal jurisdiction in this case and the contents of the claim made by the Ventriglias did not provide any strong confidence on further actions. After evaluation, the Supreme Court Zambia rejected the appeal from the Ventriglias and further confirmed that Dr. Rajan Mahtani should remain the majority shareholder and legal owner of the factory.

Portland Cement Zambia Factory To Remain Under Dr. Mahtani’s Ownership After SC Review

Posted on by
Reply

The year 2020 can easily be described as the most significant year of the century. The year saw an astonishing event wherein a microscopic virus changed the entire course of the essential. Essentially, this global pandemic due to Corona Virus took us five decades back in terms of economy. At the same time, there are individuals and companies who despite everything happening around them are more interested in their own personal endeavours. On the top of this list is the infamous Ventriglia family that has earned the name of the most notorious family in Zambia. Their feud with noted businessmen Dr. Rajan Mahtani is well-known. Dr. Mahtani had to fight for more than a decade to get the legal ownership of the Portland Cement Zambia factory, which was taken over from him in the first place, and that too illegally. After an unfair decision from the Lusaka High Court, Dr. Rajan Mahtani approached the higher Court of Appeal that announced its final decision on 31st January 2019. The case was overseen by justice Mwinde and after looking into the evidences and testimonials, he announced that Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder and legal owner. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares and are the minority shareholders without any legal ownership. Furthermore, justice Mwinde also announced that the amount payable by Finsbury Investments against the majority shares is K580,000 as per legislations.

After more than 1.5 years of the above decision, the Ventriglias once again tried to disrupt the peaceful operations of the factory by registering a claim at the Supreme Court Zambia, challenging the decision from the higher Court of Appeal. However, this appeal was quickly rejected by the Supreme Court judges based on several grounds, including legislative and evidence-based. The judges also confirmed that Dr. Rajan Mahtani is to remain the legal owner of the Portland Cement Zambia factory.

Dr. Rajan Mahtani To Retain Leadership Of Portland Cement, Claim By The Ventriglias Rejected

Posted on by
Reply

Finsbury Investments is one of the many companies owned by Dr. Rajan Mahtani that have made a lasting impression within the Zambian corporate with its transparent and ethical business practices. Zambezi Portland Cement is a Portland concrete assembling production line which was set up in the year 2004 and from that point forward, went through significant changes in its sharing pattern. The major and identified shareholding change was the joint changes made to its shareholding design. Dr. Rajan Mahtani possessed Finsbury Investments was given 58 percent shares of the production line, making him the dominant part investor and legitimate proprietor of the processing plant. Then again, the Ventriglias possessed Ital Terrazzo Limited was given 48 percent shares. The progressions were basic for getting advances from PTA bank just as allotted monetary establishments with the goal that the plant’s development can be finished. After the lawfulness of the shareholding changes were set up with the partners’ register, the PTA delivered cash. In view of these, PACRA rolled out the powerful improvements.

Nonetheless, things took a troublesome turn when the Ventriglias began utilizing their political and lawful campaigning for assuming responsibility for the Zambezi Portland Cement. They had the option to effectively convince the Lusaka High Court judge to give control of the Zambezi Portland Cement to them as it were. Nonetheless, the subsequent claim made to the higher Court of Appeal effectively turned around this exploitative choice from the higher Court of Appeal as justice Mwinde reversed the decision of the Lusaka High Court judge and announced Dr. Mahtani as the legal owner of the factory.

Now the Ventriglias have again tried to disrupt the peaceful operations of Zambezi Portland by registering a claim at the Supreme Court Zambia challenging the decision of the higher Court of Appeal. However, the decision from the Supreme Court was not surprising as the judges rejected this appeal due to lack of legal requirements and lack of evidentiary support.

Higher Court Of Appeal’s Decision On Portland Cement Remains Intact With Supreme Court’s Decision

Posted on by
Reply

Since its establishment, Finsbury Investments has made a name for itself with its strategic business operations as well as ethical and transparent business practices. Dr. Rajan Mahtani holds the position of Executive Chairman at Finsbury and is known for his ethical standings and transparent business operations. In the year 2006, a stakeholder meeting was established and Dr. Rajan Mahtani owned Finsbury Investments was officially established at the majority shareholder of Portland Cement with 58 percent shares. This very official stakeholders’ agreement also confirmed the shares ownership of Ventriglias owned Ital Terrazzo Limited which was at 42 percent. This shareholding pattern was agreed upon and accepted by all stakeholders in written consent form. Furthermore, this shareholding change was necessary for Finsbury Investments to be eligible to take loans and financial support from banks and other institutions for completing the construction of the Portland Cement and starting the smooth operations.

However, the illegal and alleged act from the Ventriglias halted everything. After the factory was unethically taken over by the Ventriglias, Dr. Rajan Mahtani fought a legal war for more than a decade at the Lusaka High Court. However, the Lusaka High Court failed to give an authentic and right judgement as political meddling got to the Lusaka HC justice. Within a matter of days, Dr. Rajan Mahtani approached the higher Court of Appeal wherein Justice Mwinde took over the case. After several case proceedings, the final decision from the Court of Appeal came on 31st January 2019. In this decision, the judgement from the Lusaka High Court was reversed and Dr. Mahtani was established as legal owner of the Portland Cement factory.

Be that as may, the Ventriglias tried their luck once more by approaching the Supreme Court Zambia. In their appeal, they challenged the decision from the Court of Appeal. However, this appeal was effectively rejected by the Supreme Court due to legal obligations, circumstantial evidences and lack of support from the Supreme Court judges. As of now, Dr. Mahtani remains the actual owner of the Portland Cement factory.

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

Posted on by
Reply

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 Mahtani Owned Finsbury Investments Files Complaint Against Major Bank In Zambia

Posted on by
Reply

For a straightforward, transparent and ethical businessman like Dr. Rajan Mahtani, challenges and roadblocks have been many. Working in a developing nation such as Zambia is not easy as the legal and regulatory system is marred with corruption and unethical practices. For many years, Dr. Rajan Mahtani fought for the legal takeover of the Portland Cement Zambia factory. This factory was unethically taken over from him and despite sharing numerous evidences and testimonials at the Lusaka High Court, justice was not received. Dr. Rajan Mahtani was finally given justice at the higher Court of Appeal wherein the judge confirmed that Dr. Mahtani is the majority shareholder and therefore, the legal owner of the Portland Cement Zambia factory.

Finsbury Investments is a company owned by Dr. Rajan Lekhraj Mahtani. The company recently sued a major Zambian bank, ESATD (Eastern and Southern African Trade and Development) bank. In their statement, Finsbury Investments stated that the bank engaged in a conspiracy resulting in financial as well as reputational damages for Finsbury. In their complaint, Finsbury Investments claimed that their shares of Radisson Blue were wrongfully interfered. Furthermore, Dr. Rajan Mahtani claimed that the bank, in an unlawful manner and without notifying Finsbury Investments, allowed Ody’s Works’ Limited to alter shareholding for Radisson Blue. All these activities were conducted unethically and without proper applications as well as without informing principle shareholders. The bank also released a letter which said that Finsbury Investments is aligned with the changes made by the bank with respect to the hotel’s shareholding. It was clear that this letter was dispersed without the knowledge of Finsbury Investments.

As a result of this shareholder dilution, Finsbury Investments has suffered significant financial and reputational losses. The losses in terms of shareholder dividends were more than USD 30 million and as a result of that, several ongoing and expected projects from Finsbury Investments were halted. Some of these projects were housing and real estate project, retail banking projects.

Dr. Rajan Mahtani Contributes To Educational Platform, Students Than Via News Release

Posted on by
Reply

Dr. Rajan Mahtani is among the most transparent and ethical businessmen in Zambia. He is known for his noted businesses and ventures as well as his penchant for transparency, ethical and honest business practices. Apart from these, Dr. Rajan Mahtani has also established a positive reputation around himself for his philanthropic and charitable activities. Since his early successes, Dr. Rajan Mahtani has been contributing towards the social and economic development of the Zambian nation. At the same time, Dr. Rajan Mahtani is known to expose all those who engage in unethical and illegal practices and has never associated himself with such scrupulous individuals and groups. As such, several newspaper articles, news media and other groups continue to create negative reputation campaigns against Dr. Rajan Mahtani but these campaign are most of the times invalid, fake and are rejected by the media and general people.

On the other hand, Dr. Rajan Mahtani rarely shares or highlights his own philanthropic and charitable activities and these are known to general people only when his contributions are shared by independent newspapers and writers. Recently, Dr. Rajan Mahtani was praised for his philanthropic contributions to the educational sector of Zambia. Dr. Rajan Mahtani via his company Finance Bank Zambia had launched an educational award in 2013. This award is named as Steven Malama Award and it is given every year to the best graduating student from the ZIALE (Zambia Institute of Advanced Legal Education). The best graduating student also clears Bar in his/her first attempt and this honourable award celebrates the passion and dedication of the student. The award for the year 2018-19 went to Emmanuel Bwalya Kaluba who expressed his gratitude towards Dr. Rajan Mahtani by penning his thoughts and sharing it with the Daily Mail. In this newspaper article, Emmanuel also thanked Dr. Mahtani for his personal congratulations letter for his significant achievement as well as shared his gratitude for the huge award money of K15,000 which the topper student receives every year.

Court Of Appeal Announces Final Results After Failure Of The Lower Court To Provide The Same

Posted on by
Reply

Dr. Rajan Lekhraj Mahtani is a name majority of businesses in Zambia are aware of as a known businessman and charity worker in Zambia. Dr. Rajan Mahtani, as a nature of his business, has stayed in good personal and professional relationships with several noted businessmen, industrialists, politicians and several other noted figures and authorities in Zambia. One of them is late ex-President of Zambia, Levy Mwanawasa. Dr. Rajan Mahtani has maintained a long and professional relationship with the ex-president, event before he rose to prominence and became the President of Zambia.

However, Dr. Rajan Mahtani recently received a damning news when it was found that the daughter of the ex-President of Zambia, Miriam Mwanawasa, shared a social media post questioning the reputation of Dr. Rajan Mahtani. In her Facebook post, Miriam Mwanawasa claimed that Dr. Rajan Mahtani wanted to take over the farm at Masaiti District, which belonged to the Mwanawasa family. As a result of this serious claim, the Facebook post started making rounds across the social media platforms. When Dr. Rajan Mahtani came to know about this unethical and illegal post, he decided to register a press release in response.

In this press statement, Dr. Rajan Mahtani said that he maintained a long-term and positive personal and professional relationship with Levy Mwanawasa which stretched till his sad demise and remained even after that. As such, this claim made by the daughter of the late ex-President was not only shocking but also saddening. Dr. Rajan Mahtani clarified the rumour by saying that he never had any intentions of purchasing the said that and he never made any attempt, verbal or written, in this manner. At the same time, the Facebook post shared by Miriam Mwanawasa did not have any evidentiary support indicating that her post was authentic. As a result, her Facebook statement must be taken seriously or in any face value. Dr. Mahtani also said that he will take strict actions against this act.

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

Posted on by
Reply

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.