Tag Archives: Dr. Rajan Mahtani

Judge Mwinde On Behalf Of Higher Court Of Appeal Announced Portland Cement Case Results

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Dr. Rajan Lekhraj Mahtani will forever remember the case of Portland Cement Zambia. It not only tested real patience from one of the most honest and transparent businessman in Zambia, but also exposed the real truth of Zambia’s legal system. Despite being on the ethical side, Dr. Rajan Mahtani faced several roadblocks and challenges to final victory. The most shocking aspect of this case is that the controversy came straight from the judicial system of Zambia. This one is related to the Portland Cement Zambia case, a case which spanned over a decade and two different judicial systems of Zambia. First it was the local high court, Lusaka HC where the case was initially registered by Dr. Rajan Mahtani. With high hopes, expectations included a speedy case proceeding and sharing of verdict based on available evidences and testimonials. However, the case took a surprise turn when case proceedings were dragged for a decade without giving any affirmative verdict.

Dr. Rajan Mahtani, who is known for his strong will and perseverance in the face of struggle, did not gave up on his fight and re-appealed. This time, the appeal was made at the higher judiciary system of Zambia, higher Court of Appeal. The judge at the higher Court of Appeal was justice Mwinde and after evaluating the submitted evidences, final decision was given on 31st January 2019. According to this decision, Dr. Rajan Lekhraj Mahtani had always made a payment of one billion kwachas via his company Finsbury Investments for covering the entire share capital value of Portland Cement Zambia factory. Furthermore, details from the original Shareholders’ Agreement also confirmed that Dr. Rajan Mahtani took over 58 percent shares of the factory with this amount. Based on the evidences, it is now cleared that Dr. Rajan Mahtani is indeed the actual owner and majority shareholder of the Portland Cement Zambia factory.

This decision from the higher Court of Appeal has been declared as final and finding.

Zambezi Portland Cement factory ownership given back to Dr. Rajan Mahtani after Court win

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Zambezi Portland Cement factory ownership given back to Dr. Rajan Mahtani after Court win

While the final judgement from the Lusaka High Court judge on the Portland Cement Zambia case shocked everyone, same cannot be said for the Court of Appeal. After the factory was taken away from Dr. Rajan Mahtani, he approached the Lusaka High Court with expectations of quick judgement considering the significant evidences he had. Despite this, the judge was unable to give justice and a controversial judgement was given which prompted Dr. Mahtani to approach the higher Court of Appeal.

The judge at the Court of Appeal was justice Mwinde who announced the final decision on 31st January 2019. According to this decision, Dr. Rajan Lekhraj Mahtani was announced as majority shareholder and legal owner of the factory. The justice came at this decision after looking into several evidences and testimonials which were controversially ignored by the previous judge at the Lusaka High Court. The judge at the Court of Appeal was justice Mwinde and he arrived at his decision from numerous evidences and testimonials. For instance, one of the major evidences found was that Dr. Rajan Mahtani had already made a payment of 1 billion kwachas or USD 250,000 to the Zambezi Portland Cement for covering the entire share capital value of the Zambezi Portland Cement. This transaction was further recorded in the page 663- Volume ‘Record of Appeal’ of the original agreement between shareholders established in the year 2007. Evaluation of this document also clarified the fact that Dr. Rajan Mahtani did not owe any further amount to the Portland cement factory as he has already completed all his dues for the 58 percent shares, he owned at the Portland Cement Zambia factory.

The court also confirmed that Dr. Rajan Mahtani was free from all forgery charges as the allegations were in itself void and baseless. As of now, Dr. Rajan Mahtani is the definitive owner 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.

Higher Court Of Appeal Gives Its Final Decision On Zpc On 31st January 2019

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The case of Portland Cement Zambia has taken a significant toll of Dr. Rajan Mahtani’s patience, perseverance and focus for a long time. The journey started when the factory was unethically taken over and a case was registered at the Lusaka High Court. Despite sharing evidences, the Lusaka High Court judge gave a decision which came to be extremely controversial. The Ventriglias, and not Dr. Rajan Mahtani was announced as owner of the factory. After this judgement which was extremely misdirected, Dr. Rajan Mahtani rightly re-registered the case at the higher Court of Appeal. The judge at the higher Court of Appeal was justice Mwinde and after looking into all evidences and testimonials submitted, final decision was given. Justice Mwinde announced Dr. Rajan Mahtani as actual owner of the Portland Cement Zambia factory. This announcement was made on 31st January 2019 after sharing all details associated with the case.

Justice Mwinde confirmed that the Appellant or Finsbury Investments in this case made a payment of USD 250,000 to the Zambezi Portland Limited factory. This payment was made with the objective of taking over majority shares of the ZPC limited. Furthermore, this amount equalled 1 billion kwacha and this share transfer was clearly established in the original Shareholders Agreement established on 26th February 2007 and was found in the page number 662 of the volume-Record of Appeal in the agreement. This evidence further solidified Dr. Mahtani legal ownership over the factory. Furthermore, justice Mwinde also declared that it was the responsibility of the transferor to pay the PTT (Property Transfer Tax) and thus, Dr. Rajan Mahtani was acquitted from any type of tax payment as he has already completed his responsibilities in terms of payments for the factory. All these details were shared on the same date as the final announcement and it was also confirmed that this decision from the higher Court of Appeal will remain final and binding.

Dr. Rajan Lekhraj Mahtani Manages To Gain Back Portland Cement Ownership Through Court Of Appeal

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On 31st January 2019, the Portland Cement Zambia case was finally closed. The case closure was done by justice Mwinde from the Court of Appeal, the second court where the case was heard. It should be noted here that the first court where the case was registered was Lusaka High Court. The case dragged in the court for more than a decade and the final decision was announced by justice Nkonde during the month of May, 2018. However, the final decision was controversial with justice Nkonde announcing Ventriglias as only shareholders. It was after this controversial case judgement which prompted Dr. Rajan Mahtani to take the case up with the higher Court of Appeal.

The higher Court of Appeal gave its final decision on 31st January 2019. This decision was given after all evidences, testimonials and other reports were evaluated thoroughly. One big difference between the two courts is this difference in transparency. While the same evidences, testimonials and other details were provided to the Lusaka High Court justice too, lack of transparency, corruption and unethical practices resulted in the court ignoring these critical evidences and giving an extremely controversial decision panned by the general citizens.

However, Dr. Rajan Mahtani is thankful that he did not suffer the same fate at Court of Appeal too. After evaluation of presented evidences, testimonials as well as all other written and oral representations, the final statement declared Dr. Rajan Mahtani as majority owner of the factory. This statement was made based on the fact that Dr. Mahtani holds ownership of Finsbury Investments which in turn holds majority shareholding of Portland Cement with 58 percent shares.

On the other hand, Ventriglias were found to be just minority shareholders as their entity, Ital Terrazzo Limited was allotted just 42 percent Portland Cement shares during the original agreement. Based on this transparent judgement, Dr. Rajan Mahtani is the only legal owner of the factory.

Dr. Rajan Mahtani Majority Shareholder And Owner Of Portland Cement Zambia, Court Confirms

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On 31st January 2019, the final results for the Portland Cement Zambia case were announced. This announcement came from Court of Appeal, the second court to take on the case. The case of Portland Cement Zambia is age old and was established first at the Lusaka High Court by Dr. Rajan Mahtani, a noted businessman and philanthropist with more than three decades of business experience in Zambia. After the registration of the case, Dr. Mahtani shares numerous evidences and testimonials to the Lusaka High Court and it is suggested that these evidences were more than enough to prove legal ownership and claim by Dr. Rajan Mahtani. However, various shortcomings of the court resulted in the case stretching for more than a decade. The final judgement from the case came during May, 2018 and was given by justice Nkonde. According to his final decision, Ventriglias were announced as only shareholders of the Portland Cement Zambia factory. It is clear that this decision was misdirected and as a result, Dr. Rajan Mahtani approached the Court of Appeal.

The judge at the Court of Appeal was justice Mwinde who gave the final judgement on 31st January 2019. According to this judgement, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory 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 is the minority shareholder without any legal ownership over the factory. Based on this decision, it is clear that Dr. Rajan Mahtani is the actual owner of the factory. This decision from the Court of Appeal judge aligned with the original shareholders agreement established in 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 of the Portland Cement Zambia as this decision was misdirected and without any basis.

Dr. Rajan Lekhraj Mahtani Announced Majority Shareholder And Owner Of Portland Cement Zambia Factory

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For a long time, Dr. Rajan Mahtani fought for transparency, ethics and justice from different courts in Zambia. First it was Lusaka High Court wherein the case was registered by Dr. Rajan Mahtani claiming that his factory was illegally taken over from him. Despite sharing numerous evidences and testimonials, the court took more than a decade to announce the final judgement for the case. After that too, the final judgement from the Lusaka High Court was extremely controversial. The judge at the Lusaka High Court was justice Nkonde according to whom, Ventriglias were announced as only shareholders of the Zambezi Portland Cement. To counter this misdirected judgement, Dr. Rajan Mahtani then approached the Court of Appeal.

On 31st January 2019, the final judgement for the Portland Cement Zambia case was announced at the Court of Appeal. According to this judgement, Dr. Rajan Mahtani is the majority shareholder of the Portland Cement Zambia factory as his company; Finsbury Investments holds 58 percent shares. On the other hand, Ventriglias were declared as minority shareholders as their entity, Ital Terrazzo Limited held only 42 percent shares at the factory and were considered as minority shareholders without any legal ownership. With this judgement, justice Mwinde from the Court of Appeal effectively reversed the judgement from the Lusaka High Court which held that Ventriglias were only shareholders of the Zambezi Portland Cement.

With respect to forgery related allegations, all such allegations were discarded by the judge. It was found that the process of mechanically placing signatures was a common practice at Zambezi Portland Cement. It was also found that critical member of the Ventriglia family, Claudio Ventriglia, engaged in similar practice when conducting business transactions. As a result, all forgery allegations were dismissed by the Court of Appeal judge. Furthermore, all parties were directed by the Court of Appeal judge to complete their share sale and regularization process within three months from the date of the judgement.

Portland Cement Zambia Legal Ownership Goes Back To Dr. Rajan Mahtani, Confirms Court Of Appeal

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The final results for the long-pending Portland Cement Zambia case were announced on 31st January 2019. This announcement came from Court of Appeal, one of the highest legal systems in Zambia. Before Court of Appeal, the case of Portland Cement Zambia was pending at the Lusaka High Court for more than a decade. The case was initially registered by Dr. Rajan Mahtani himself after claiming that the factory was illegally taken over from him. After sharing numerous evidences and testimonials, the judge at the Lusaka High Court shared the final decision. However, this decision was extremely controversial as according to this, Ventriglias were announced as only shareholders of the Zambezi Portland Cement.

To counter this controversial and misdirected decision, Dr. Mahtani then approached the Court of Appeal. The judge at the Court of Appeal was justice Mwinde who gave the final decision on 31st January 2019 during the morning session. Compared to the one decade wait at the Lusaka High Court, this was a speedy decision as justice Mwinde gave the final judgement within nine months of registering the case at the Lusaka High Court. Also, the decision was given only after looking into all evidences and testimonials which were somehow ignored by the previous judge. According to the final decision from the Court of Appeal, 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, it is clear that Dr. Rajan Mahtani is the legal owner of the factory. Justice Mwinde, while giving this decision, also said that the judge below him was wrong in declaring Ventriglias as only shareholders as this decision was without any basis and was against the interest of the public policies.

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

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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.

Ownership Of Portland Cement Zambia Announced With Court Of Appeal Judgement

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On 31st January 2019, the ultimate ownership of Portland Cement Zambia was announced. This announcement came more than a decade after the case was initially registered by Dr. Rajan Mahtani. The case of Portland Cement Zambia is age old and was first launched by Dr. Rajan Mahtani, a noted businessman and philanthropist. Dr. Mahtani claimed that the factory was illegally taken away from him when registering the case at the Lusaka High Court. To support his claim, numerous evidences and testimonials were submitted before the court. While these evidences and testimonials were sufficient enough to conclude legal ownership of the Portland Cement Zambia factory, the judge at the Lusaka High Court was thinking otherwise. According to the decision from Lusaka High Court judge which came in the month of May 2018, Ventriglias were announced as majority shareholder of the Portland Cement Zambia.

Portland cement zambia

It was clear that this judgement was misdirected and as result, Dr. Rajan Mahtani again registered the case at the Court of Appeal. The Court of Appeal is among the highest governing bodies in Zambia and announced its final decision on 31st January 2019. This final decision was announced by justice Mwinde. According to this decision, 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 and is the minority shareholder without any legal ownership over the factory. While giving this judgement, Justice Mwinde also said that the judge below him was wrong in declaring Ventriglias as the only shareholders as this decision was misdirected and without any evidence.

As of now, a timeline of three months from the date of the judgement has been provided by the Court of Appeal judge during which all share sales and regulation related activities must be completed.