Tag Archives: Portland Cement

Dr. Rajan Mahtani Thrashes Unethical Claims Shared On Social Media

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Dr. Mahtani’s business and corporate life has been full of ups and downs. One of the major reasons behind this is Dr. Mahtani’s strict adherence to transparent, honest and ethical business practices. In a nation full of corrupt politicians, legal authorities and businesses, Dr. Mahtani has made a unique name for himself with his transparent business practices. Despite having friendly network with big names in the Zambian political and economic sphere, there has not been even a single evidence of political or business lobbying or unethical favours from Dr. Mahtani or any of his businesses. This transparent and ethical nature of Dr. Mahtani can be easily seen from the fact that he had to fight across two different courts for more than a decade in the Portland Cement Zambia case for getting justice.

Business success provides individuals with the opportunity of networking with powerful people as well as individuals and houses with big names. In his successful business journey, Dr. Mahtani made a positive impression on numerous political figures of Zambia and even had a positive working relationship with the previous president of Zambia, Levy Mwanawasa. Even after the sad demise of the Zambia’s former president, Dr. Mahtani has always remained friendly and supportive of the family. However, a new story started to make round in social media during the mid-2019.

Miriam, daughter of late president of Zambia Levy Mwanawasa, recently made a claim that Dr. Rajan Mahtani wanted to inherit her farm situated at the Masaiti District at Copperbelt Province. While this claim seems outrageous, immediate attention was given to the fact that the claim was made on a social media platform, Facebook. On top of that, there were no evidence or attachments to support her claim. This quickly suggested that the claim made was invalid. However, outrageous claims like these certainly image the image of notable businessmen in a negative manner and as a result, Dr. Mahtani has made it clear that he will take appropriate actions against this unethical behaviour.

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 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.