Dr. Rajan Mahtani & his team Happy with the New Court Announcement

The Portland Cement Zambia case is no doubt one of the most talked about corporate cases in recent times. The case is between Dr. Rajan Mahtani and the Ventriglias. While Dr. Rajan Mahtani is a noted businessman, philanthropist and charity worker; the Ventriglias are infamous for their unethical practices such as using bribes or force to get what they want. This is exactly what they did in case of Portland Cement Zambia. Knowing that they do not stand any chance of taking over the factory in legal terms, they used goons to take control over the factory from Dr. Rajan Mahtani. Later when a case was launched by Dr. Mahtani for this illegal takeover, they casually defended themselves by saying that Dr. Rajan Mahtani did not pay for the shares he owns at the factory.

Dr. Rajan Mahtani

During the course of the court proceedings, Dr. Mahtani and his lawyers have submitted numerous documents and evidences that sufficiently prove his legal ownership over the factory. Some of these are signed shareholders agreement, financial exhibits which clearly shows his investment in the shares as well as in the factory worth more than USD 8 million as well as numerous testimonials from important members of the factory. Another important document which Dr. Mahtani shared is the audit report conducted by an independent auditor at the factory. The audit report clearly states that Dr. Rajan Mahtani is the legal owner of the factory which was established as joint venture. He is the sole joint venture partner and the rest of the members are just shareowners. The Ventriglias, on the other hand, have not shared any strong evidence to prove their claim.

The judge handling this case has announced that case hearing is closed and both teams have been asked to submit their evidences in written and oral format. Post evaluation of these evidences, final judgment will be announced soon.

Dr. Rajan Mahtani Is Praised For His Contribution In 2017 African Summit

In a shocking incident, various top lawyers from prominent law firms in Zambia have been accused of money laundering activities. This revelation has certainly brought the nation at a halt. Citizens are in shock and industrialists have heavily condemned the individuals caught in the act. Noted industrialists such as Dr. Rajan Mahtani have demanded strict actions against these culprits. The activities were investigated and unearthed by a noted agency FIC (Financial Intelligence Agency). As per the agency, this investigation took new turn when suspicious and high amount of cash transactions worth almost USD 1 billion were recorded. In a matter of two weeks, more than 35,000 transactions were noted.

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Sakwiba Sikota, Legal Counsellor Of Ventriglias Caught In Money Laundering Case

The recent revelation made by the FIC (Financial Intelligence Centre) has certainly brought back the dark phase of the Zambian corruption history. What is more shocking is the reach of this corruption to high-level ranking officials, governmental employees and even ministers. The FIC recently uploaded a list of people caught in an ongoing investigation on mass money laundering activities. The major shock point of this list was that it was filled by prominent lawyers. These lawyers were found to be working for the government officials, big law firms and even for ministers. The list also contains the name of Sakwiba Sikota, the lawyer for the Ventriglias.

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