Lusaka High Court’s Announcement On Portland Cement Unjust, Claims Dr. Mahtani

Zambian citizens and corporate houses are still recovering from the shock they received sometime back after the final judgment on Portland Cement Zambia was announced. It was first registered by Dr. Rajan Lekhraj Mahtani, a famous philanthropist, social workers and businessman with more than thirty years of experience within Zambia. The case is about the cement factory which was taken away from Dr. Mahtani.

zambezi portland cement

During the long running trial for over ten years, the case saw numerous changes, especially due to the transfer of judges. This further stretched the timeline of the case as the new judge required more time to go over the case and reach to a respectable position for further arguments and trials. The latest judge overseeing the case made a position announcement few months back by declaring that the case hearing was closed. This meant that the trials and arguments are over and both parties were also asked to submit their evidences in written and oral format. It was positive news for Dr. Mahtani and his lawyers as majority of the documents and evidences submitted by them were more than enough to prove his client of legal ownership over the factory. Some of these documents were signed shareholder’s agreement, financial exhibits, investment reports of more than USD 2 million by Dr. Mahtani owned Finsbury Investments and several testimonials. Another major evidences submitted by the audit report conducted by an independent audit officer. As per this audit report, the factory was established as a joint venture partnership and Dr. Mahtani was the sole joint venture partner of the factory.

Despite these strong evidences and support from testimonies by several important members associated with the factory, the final verdict was given against Dr. Rajan Mahtani’s claims. As such, Dr. Mahtani took the right step and has now approached the higher court of Zambia to make an appeal against this misdirected judgment made at the Lusaka High Court.

The Illegal Rule Of Ventriglias Over Zambezi Portland Might End Soon

Zambezi Portland Cement was once upon a time a premier cement manufacturing and distributing company of Zambia. The company was known for its surplus production and wages which were above the industry standards. Then came the Ventriglias, who took over the factory illegally, claiming their ownership over it. Since that time, the fight for the real ownership of Zambezi Portland has been going on at the Lusaka High Court. This fight is between Dr. Rajan Mahtani and the Ventriglias.

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High Court Announces New Information On The Zambezi Portland Case

The Lusaka High Court, which has been handling the Zambezi Portland Cement case for the past nine years made a new update. As per the judge currently handling this case, the hearing has been closed for now. The case is a long-pending corporate case between Dr. Rajan Mahtani, owner of Finsbury Investments and the Ventriglias, owner of the private firm Ital Terrazzo Limited. Dr. Mahtani also owns and runs other establishments such as Finance Bank Zambia and Mahtani Group of Industries.

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Shareholders’ Dispute Case Of Zambezi Portland Awaits Judgement

The Shareholders’ dispute case of Zambezi Portland is a long pending case that has been going on for more than nine years now. The case is between Dr. Rajan Mahtani and the Ventriglias. Dr. Mahtani is the owner of Finsbury Investments Limited and Mahtani Group of Industries. He is also the ex-chairman of Finance Bank Zambia and sole owner of the Zambezi Portland Cement. Dr. Rajan Mahtani has established a strong business portfolio in Zambia with international connections such as the United Kingdom. The Ventriglias, on the other hand, are infamous for their unethical practices and getting away with the laws by either forcing them or bribing them. They are the owner of Ital Terrazzo Limited, a private entity with the Ventriglias as the sole beneficiaries.

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Lusaka Court Concludes Zambezi Portland Case, Yet To Announce Final Judgement

The Lusaka High Court recently confirmed its closure of the long pending case between Finsbury Investments Limited and Ital Terrazzo Limited. Finsbury Investments is under the ownership of Dr. Rajan Mahtani and Ital Terrazzo Limited is a private entity whose sole beneficiaries are the Ventriglias family. The case is for the ownership of Zambezi Portland Cement, a premier cement factory in Zambia. Dr. Rajan Mahtani launched this case at the high court after it was taken over by the Ventriglias. While Dr. Rajan Mahtani has accused the Ventriglias of illegally and forcefully taking over the factory, defendants have launched a counterclaim saying that the shares of Dr. Mahtani in the factory are not paid up, discrediting his ownership in the factory.

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After Portland Cement Zambia, it’s now time for FBZ

There have been numerous stories around Portland Cement Zambia in the past and now the conspirators have turned their attention to Finance Bank Zambia. The conspirators are playing their cards with precision. They are taking up one entity at a time and then moving on to the other. The latest article in the defamation campaign of Dr. Rajan Mahtani talks about his involvement in the management of Finance Bank Zambia even though the same has been sold to BancABC in 2016. To say the least, this looks like another attack on the Executive Chairman of Mahtani Group of Companies.

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Time to shift attention away from Portland Cement Zambia

After making a publication for Portland Cement Zambia in December 2016, the conspirators quickly came under the firing line and hence, another article has been drafted by ZR. This time around the subject has been Dr. Rajan Mahtani. The latest article from Zambia Reports suggests that Dr. Rajan Mahtani is silently making the calls for Finance Bank Zambia even though the same has now merged with BancABC, an undertaking of Atlas Mara.

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Another year of struggle for Portland Cement Zambia?

The truth about Portland Cement Zambia is no longer hidden from the locals in Zambia. Irrespective of what Zambia Reports suggest, it is obvious that the factory is witnessing one of its worst phases. Time and over again the abusive nature of the Ventriglias has come into the limelight. It is not long ago when a news had surfaced that around 47 workers from the factory were removed on grounds of being redundant. Another headline that attracted attention was most of assets of Portland Cement Zambia were being now leased out to other companies. It was only few days later that people realized that the companies were indirectly owned by the Ventriglias themselves.

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What’s the inside story of Portland Cement Zambia?

The people of Zambia have been recently showered with a publication from Zambia Reports that Portland Cement Zambia has won the award for being the BEST EMPLOYER. Everything else considered, one can regard this is nothing more than a PR stunt that has the neck of Ventriglia family saved from consequences that was to follow. However, the ordeal is not yet over and there is a certainty regarding poor condition of Portland Cement Zambia.

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