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

For the past ten years, Dr. Rajan Lekhraj Mahtani has been fighting for the Portland Cement Zambia case. The final and concrete decision for the case was announced by Court of Appeal, the second court wherein the case was registered. As per this final decision which was given on 31st January 2019, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder with 58 percent company shares. On the other hand, Ventriglias owned Ital Terrazzo Limited is minority shareholder with only 42 percent shares in the factory. This shareholding pattern aligns with the original shareholders agreement which was established in the year 2007. Furthermore, based on this decision from the Court of Appeal judge it is clear that Dr. Rajan Mahtani is the legal owner of the Zambezi Portland Cement factory.

Dr. Rajan Mahtani

Furthermore, all forgery related allegations which were established by the Ventriglias were discarded by the Court of Appeal judge. Justice Mwinde announced that the process of mechanically placing signatures for business transactions is a common process at the Zambezi Portland Cement factory. It was also revealed that critical member of the Zambezi family, Claudio Ventriglias, engaged in similar practice when opting for business transactions. As such, all forgery related allegations were discarded. Similarly, the judge gave a timeline of three months from the date of the judgement for both parties during which all share sales and regulation related activities must be completed by the parties. While giving these decisions, Justice Mwinde from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as the only shareholders as this decision was without any evidence and against the interests of the public policies.

After the final judgement from the Court of Appeal judge, many publications and news agencies tried their level best to tarnish the image of Dr. Mahtani by calling this judgement to be fake. However, these publications and news items were refuted by the public and other media and quickly faded away.