Tag Archives: Portland Cement Zambia

Ownership Of The Cement Manufacturing Factory Confirmed, Its Dr. Rajan Mahtani After Confirmation

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Now that the final verdict has come from the higher Court of Appeal, it is now a known fact that Dr. Rajan Lekhraj Mahtani is the actual and legal owner of the Portland Cement Zambia factory. This decision came on 31st January 2019 after a long battle at the Lusaka High Court as well as the Court of Appeal. Often when cases are not finalised as a district level court or some discrepancies are still found in the decision, the issues are generally taken to the higher courts. Zambia is a developing nation and the higher Court of Appeal is among the highest courts within the nation. As such, it was natural for Dr. Rajan Lekhraj Mahtani to approach the Court after Lusaka High Court gave an extremely controversial judgement.

Justice Mwinde on behalf of the Court of Appeal announced the decision on the Zambezi Portland Cement case. Unlike the Lusaka High Court’s controversial and misdirected decision, the Court of Appeal gave its final decision only after looking into all evidences and testimonials. One of the major evidences was the proof of financial transaction of one billion kwachas or USD 250,000 from Dr. Mahtani owned Finsbury Investments to Zambezi Portland Cement. This amount covered the entire value of the share capital of the Zambezi Portland Cement Limited. While this financial transaction took place in the year 2005, the evidence of this transaction was further found in the original shareholders’ agreement established in the year 2007. In the page number 663 of this original shareholders’ agreement, it is clearly written that Dr. Rajan Mahtani does not owe any further costs associated with the factory. It was also found that all other costs associated with the transaction such as PTT was responsibility of the Vendor.

All these evidences have now clearly established the fact that Dr. Rajan Lekhraj Mahtani is the only legal owner of the factory.

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.

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.

Majority Shareholding Goes To Finsbury Investments, Portland Cement Zambia Case Closed

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The Portland Cement Zambia case has been finally closed. The case started more than a decade ago when it was registered at the Lusaka High Court by none other than Dr. Rajan Mahtani. Dr. Mahtani had claimed the legal and actual ownership of Portland Cement Zambia and also claimed that the factory was unethically and forcefully taken away from him. Despite having all evidences, facts and testimonials for re-claiming his factory, the Lusaka High Court dragged the case for more than a decade. Major reasons attributing to this long pendency can be lack of proper ethical standings at the court, regular transfers of judges leading to case starting again from the scratch, unethical acts from the opponents such as not attending case hearing or bribing the department and many more. As a result of these challenges, it took more than a decade to make a final announcement to the case. However, even this announcement was controversial. The judge at the Lusaka High Court giving the final judgement was justice Nkonde who announced that Ventriglias were only shareholders of the Portland Cement Zambia.

After this, the second and most important phase of the case started. Dr. Rajan Mahtani took the case to the Court of Appeal, one of the highest civilian courts in Zambia. The judge who took the case was justice Mwinde and he gave the final decision on 31st January 2019, around nine months after the re-appeal. Unlike the previous judges, justice Mwnde looked into all evidences and testimonials and only after complete checking, shared the final results. As per this decision, Dr. Rajan Mahtani is the actual owner of the Portland Cement Zambia factory as he owns 58 percent shares of the factory. The Ventriglias, on the other hand, hold just 42 percent shares at the factory and are the minority shareholders without any legal ownership. Based on this decision from the Court of Appeal judge, it is clearly established that Dr. Rajan Mahtani is the actual owner of the Portland Cement Zambia factory.

Dr. Mahtani Announced Portland Cement Zambia Winner By Court Of Appeal

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After more than a decade of wait, Dr. Rajan Mahtani has been given majority shareholding and ownership of Portland Cement Zambia factory. This decision came from Court of Appeal, one of the highest civilian courts in Zambia and the second court to announce the judgement. This decision from Court of Appeal came on 31st January 2019, around nine months after the case was registered there. The judge at the Court of Appeal was justice Mwinde who gave the judgement after looking into all evidences and testimonials. According to this decision, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder of the factory. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and are the minority shareholders without any legal ownership over the factory. This decision from the Court of Appeal aligned with the original shareholders agreement established in the year 2007. Based on this decision, it is clear that Dr. Rajan Mahtani is the actual owner of the factory.

By giving this decision, the judge from the Court of Appeal effectively reversed the judgement from the Lusaka High Court which had earlier announced that Ventriglias were the only shareholders of the Portland Cement Zambia factory. 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 misdirected and without any evidences. In terms of the forgery allegations, all such allegations were discarded by the judge. The judge confirmed that the process of mechanically placing signatures was a common practice in Portland Cement Zambia and critical member of the Ventriglia family, Claudio Ventriglia, engaged in similar practice and as such, all forgery related allegations were discarded. With this Court of Appeal judgement, the Portland Cement Zambia factory goes finally to Dr. Rajan Mahtani.

Final Decision From The Court Of Appeal Announced, Dr. Mahtani Wins Big With Court Decision

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Dr. Rajan Lekhraj Mahtani is a noted businessman in Zambia. He is also one of the few remaining businessmen in Zambia still following a fully transparent and ethical pathway. He is also responsible for some of the most successful businesses in Zambia such as Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. Despite these achievements, Dr. Rajan Mahtani is often preyed upon by unethical individuals and groups and has to face several roadblocks due to the ongoing corruption within the Zambian government. One of the prime examples is the Portland Cement Zambia case, which was launched by Dr. Rajan Mahtani more than a decade ago. Dr. Rajan Mahtani had registered the case at the Lusaka High Court claiming that his factory was illegally taken over from him. Despite several case proceedings and sharing of relevant evidences and testimonials, the case stretched for more than a decade. The judge who ultimately gave the final decision was justice Nkonde and this final decision came during the month of May, 2018. According to this decision, Ventriglias were given the majority shareholder of the Portland Cement Zambia case.

It was clear that this decision was misdirected and as a result, Dr. Rajan Mahtani took the right decision and 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 decision, Finsbury Investments owned by Dr. Rajan Mahtani holds 58 percent shares at the factory and is the majority shareholder of the factory. On the other hand, Ital Terrazzo Limited owned by the Ventriglias holds only 42 percent shares at the factory and is the minority shareholder without any legal ownership over the factory. The Court of Appeal judge also said that this decision aligned with the original shareholders agreement established in the year 2007. Based on this decision, it is clear that Dr. Rajan Mahtani is the actual owner of the Portland Cement Zambia 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.