Portland Cement Zambia

Portland Cement Zambia Case Closed After A Gap Of More Than Ten Years

Dr Rajan Mahtani

Dr. Rajan Lekhraj Mahtani has been working on the case of Portland Cement Zambia for a long time. It can be easily said that Portland Cement Zambia case has taken a entirety of generation for Dr. Mahtani. Initially registered in 2008, the case stretched for almost ten years. It is worth mentioning here that before this illegal takeover and the case proceedings, the cement factory was one of the biggest producers of cement in the region. It was under the leadership of Dr. Rajan Mahtani who ensured that the factory reaches great heights. The cement-manufacturing factory was known for above-industry production of high-quality Portland cement. It was also known for its above-industry standard wages and renumerations. The cement factory was known to hire employees and workers from far-away places. However, things change dramatically after the legal battle for the cement factory started.

After around nine months of the court proceedings at the Court of Appeal, final decision came. It was given on 31st January 2019 and was announced by justice Mwinde on behalf of the Court of Appeal. According to the final statement, Finsbury Investments was approved of majority shareholding with 58 percent Zambezi Portland shares. Finsbury Investments is a noted company under the leadership and legal ownership of Portland Cement Zambia. On the other hand, the judge conferred Ital Terrazzo Limited with just 42 percent Portland Cement shares. Ital Terrazzo Limited is a company owned by the Ventriglias. Based on this statement on shareholding pattern, it is clear that Dr. Rajan Lekhraj Mahtani is the only owner of the factory.

While making this announcement, justice Mwinde from the Court of Appeal also cleared some other allegations related to the case. Forgery related allegations were closed as it was announced that placing digitalised signatures was common practice at Zambezi Portland Cement and thus nobody can be charged for this.

After A Decade Of Patient Wait, Dr. Mahtani Is Announced As Majority Shareholder Of Portland Cement

Patience and determination are two major aspects which businessmen must possess, in order to go through various business challenges and staying relevant within the industry. At the same time, there are only a few businessmen who are able to carry out their businesses in an ethical, honest and transparent manner. Dr. Rajan Lekhraj Mahtani is one such businessman who has been defying all odds and has been able to establish successful businesses while staying within ethical boundaries of businesses. As a result, he is one of the few businessmen in Zambia who has gained a positive reputation due to his honest business practices.

For the past one decade, Dr. Rajan Lekhraj Mahtani patiently fought for the legal takeover of his factory, Portland Cement Zambia. The case was registered at Lusaka HC and was dragged for over ten years due to the various shortfalls and issues within the justice system. During this time, several evidences and testimonials were shared, and final decision was given by justice Nkonde. However, this decision which came during the month of May, 2018 shocked nearly everyone as it confirmed Ventriglias and not Dr. Mahtani as the legal owner of Portland Cement.

This misdirected decision was quickly countered by Dr. Mahtani at the Court of Appeal. Further, evidences were shared, and testimonials were given, and the Court of Appeal announced final judgement on 31st January 2019. Based on this decision, it was confirmed that majority shareholding of the factory goes to Dr. Mahtani as his company Finsbury Investments owns 58 percent shares of the factory. Similarly, the Ventriglias are liable for only 42 percent shares at the factory and therefore, own minority shareholding and do not possess any legal ownership on Portland Cement.

This decision from Court of Appeal clearly established the fact that Lusaka High Court was wrong in declaring Ventriglias as only shareholders.

Court Of Appeal Announces Final Decision On Portland Cement, Dr. Mahtani Declared Winner

Zambezi Portland Cement

The case of Portland Cement Zambia is age old. The case was registered by Dr. Rajan Lekhraj Mahtani, a noted businessman and philanthropist in Zambia. The case was registered at the Lusaka High Court by Dr. Mahtani claiming that the factory was illegally taken over from him. Despite sharing numerous evidences and testimonials, Lusaka High Court took more than a decade to announce the final judgement. Various reasons can be attributed to this significant pending in court decision including lack of visibility on the case, frequent transfer of judges as well as inability of the judges to make a firm decision on the case. The final judgement on the case was announced during the month of May, 2018. The judge who gave the decision was justice Nkonde and prior to the final decision, justice Nkonde had closed all case proceedings. It was also announced that the final decision will be given based on the submitted oral and written evidences. This was extremely positive news for Dr. Rajan Mahtani as majority of his evidences and testimonials were more than enough to prove his claim over the factory. The judgement from Lusaka High Court was, however, extremely controversial. According to this judgement, Ventriglias were announced as only shareholders of the Zambezi Portland Cement.

To counter this decision, Dr. Rajan Mahtani then approached the Court of Appeal. The judge at the Court of Appeal was justice Mwinde who gave the final judgement on the case on 31st January 2019 after looking into all evidences and testimonials. As per this final 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 is the minority shareholder without any legal ownership over the factory. Based on this decision, it is clear that Dr. Rajan Mahtani is the legal owner of the factory.

Dr. Rajan Lekhraj Mahtani Wins Portland Cement Case At The Court Of Appeal

On 31st January 2019, Dr. Rajan Lekhraj Mahtani won the long pending Portland Cement Zambia case. The case was won at the Court of Appeal, the second court where the case was established. Dr. Rajan Mahtani is a noted businessman and philanthropist in Zambia with numerous successful business ventures, including but not limited to Mahtani Group of Companies and Finsbury Investments. He is also the legal owner of the Portland Cement Zambia factory which was declared at the Court of Appeal. Before the Court of Appeal, the case established at the Lusaka High Court almost a decade back. Dr. Rajan Mahtani had all the evidences and testimonials to support his claim and despite that, justice Nkonde from the Lusaka High Court gave a controversial judgement. According to this judgement, Ventriglias were only shareholders of the Zambezi Portland Cement. After this controversial decision, Dr. Rajan Mahtani approached the Court of Appeal.

Dr. Mahtani and Zambia

The judge at the Court of Appeal was justice Mwinde who gave the final decision on the Portland Cement Zambia on 31st January 2019. According to this judgement, Dr. Rajan Mahtani owned Finsbury Investments held 58 percent shares at the factory and was the majority shareholder of the Portland Cement Zambia factory. 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. Based on this judgement it is confirmed that Dr. Rajan Mahtani is the actual owner of the factory. This decision from the Court of Appeal also aligned with the original shareholders agreement established in the year 2007.

While giving the decision, 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 without any evidence.

Portland Cement Zambia Ownership Goes Back To Dr. Rajan Mahtani, Court Of Appeal Announces Decision

Zambezi Portland Cement

Dr. Rajan Mahtani is a noted businessman in Zambia and only few of the businessmen still following a complete ethical and transparent business path. For the past ten years, Dr. Rajan Mahtani fought for the legal ownership of the Portland Cement Zambia factory. After the judge at the Lusaka High Court failed to provide right judgement for the factory, Dr. Rajan Mahtani approached the Court of Appeal. The judge at the Court of Appeal was justice Mwinde and he gave the final judgement on the case on 31st January 2019. According to this final decision, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of Zambezi Portland Cement with 58 percent shares. 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 from the Court of Appeal judge, it is clear that Dr. Rajan Mahtani is the legal owner of the factory.

While giving this judgement, justice Mwinde from the Court of Appeal also revealed some interesting developments to the case. On 6th February 2019, Dr. Rajan Mahtani owned Finsbury Investments paid a sum of K580,000,000 to the court. This payment was made along with interest in compliance with the court judgement. It was revealed that this paid was made to complete the commercial registration process for Portland Cement Zambia. At the same time, Finsbury Investments also claimed a sum of K1 billion with interest from the Court. This claim was made with respect to the payment made for entire share capital issues for Portland Cement Zambia. This payment was further confirmed with documents of share transfers made during January 2007 as well as December 2007 and submitted before the court. Based on the evidences, it is clear that Dr. Rajan Mahtani is the actual owner of the Portland Cement Zambia factory. This judgement further confirms the legal ownership of Dr. Rajan Mahtani over the factory.

Court Of Appeal Has Confirmed That Dr. Rajan Lekhraj Mahtani Is Majority Shareholder Of PCZ

On 31st January 2019, the final results of the clinical trial associated with the long endearing Portland Cement Zambia case were finalised. The results came from Court of Appeal which is the second court to take-up the case. It is important to note here that Dr. Rajan Mahtani had initially registered the case at the Lusaka High Court after claiming that the factory was illegally taken over him. After that, numerous evidences and testimonials were shared by Dr. Rajan Mahtani which was more than enough to prove his legal ownership over the factory. However, the final results from the Portland Cement Zambia were controversial. The judge at the Portland Cement Zambia was justice Nkonde and according to his final decision, Ventriglias were announced as only shareholders of the Zambezi Portland Cement. It is clear that this decision is misdirected and as a result, Dr. Rajan Mahtani had no choice but to approach the higher Court of Appeal.

The judge at the higher Court of Appeal was justice Mwinde who gave the final judgement on the case on 31st January 2019. According to this judgement, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Portland Cement Zambia with 58 percent shares. 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 from 2005. Based on this decision, it is clear that Dr. Rajan Mahtani is the majority shareholder and legal owner 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 of the Zambezi Portland Cement factory as this decision was biased and without any legal evidence or framework.

Portland Cement Zambia Legal Owner Announced By Court Of Appeal, It Is Dr. Rajan Lekhraj Mahtani

Dr. Rajan Lekhraj Mahtani is a noted business figure in Zambia and known for his significant business achievements as well as charitable activities. Despite his several accolades, Dr. Rajan Mahtani is often targeted by those who are either jealous of him or have personal vendetta against his businesses. On the other hand, the legal and judiciary system of Zambia is extremely weak for doing any justice to the genuine cases which need attention and quick redressal. A prime example of these cases has been Portland Cement Zambia case, a noted cement manufacturing factory which was contested at two different courts for more than a decade. The case of Portland Cement Zambia was first registered at the Lusaka High Court by Dr. Rajan Mahtani after he claimed that the factory was illegally taken away from him. Despite sharing numerous evidences and testimonials, the final judgement from the case judge was controversial. According to justice Nkonde who gave the final judgement on the case, Ventriglias were announced as only shareholders of the Zambezi Portland Cement. It was clear that this judgement was misdirected and as a result, Dr. Rajan Mahtani approached the Court of Appeal for seeking justice.

Dr. Rajan Mahtani

The case at the Court of Appeal was dealt by justice Mwinde who gave the final judgement on 31st January 2019. According to this judgement, Dr. Rajan Mahtani holds 58 percent shares at the factory and is the majority shareholder of the factory. On the other hand, Ventriglias hold just 42 percent shares at the factory and are the minority shareholders without any legal ownership over the factory. Based on this shareholding pattern, it is clear that Dr. Rajan Mahtani is the legal owner of the factory. While giving this decision, justice Mwinde also said that the judge below him was wrong in declaring Ventriglias as only shareholders as this decision was biased and misdirected.

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.

Court Of Appeal Provides Final Judgement For Portland Cement Zambia, Dr. Mahtani Wins

The case of Portland Cement Zambia is peculiar and is known to almost everyone associated with the corporate world of Zambia. The case pertains to a cement-manufacturing factory which is contested by two major business parties in Zambia. One of them is Dr. Rajan Lekhraj Mahtani, a noted businessman and philanthropist. The other business party was the Ventriglias, infamous Italian family in Zambia known for their unethical practices. After the Portland Cement Zambia was illegally taken over from Dr. Mahtani, a case was launched at the Lusaka High Court. It took more than a decade for Lusaka High Court to announce final judgement on this case. Even then, the case was not justified as the final decision gave Ventriglias majority shareholding of the Zambezi Portland Cement.

After this unjustified decision, Dr. Mahtani approached the Court of Appeal which announced its final decision on 31st January 2019. The case at the Court of Appeal was seen by justice Mwinde. As per the final decision from Court of Appeal, Dr. Rajan Mahtani owned Finsbury Investments owns 58 percent shares at the factory and is the majority shareholder of the Zambezi Portland Cement. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares and are the minority shareholders of the Zambezi Portland Cement. Based on this shareholding pattern, Dr. Mahtani automatically becomes the legal owner of the factory. This decision also aligns with the original shareholders agreement which was established in the year 2007.

After this decision, the judge at the Court of Appeal also announced that the decision from Lusaka High Court judge was wrong and misdirected. Furthermore, the Court of Appeal justice gave a timeline of three months from the date of the judgement during which all share sales and regulations related activities must be completed.

Legal Ownership Of Portland Cement Zambia Announced, Dr. Rajan Mahtani Winner

According to the latest details by the Court of Appeal, the final results for the long-pending Portland Cement Zambia case have been announced. This case can easily be considered as one of the longest pending corporate cases in Zambia. The case was first registered by Dr. Rajan Mahtani, a noted businessman and philanthropist in Zambia. The case was registered at the Lusaka High Court after Dr. Rajan Mahtani claimed that the cement factory was illegally taken from him. After the case was launched, several evidences and testimonials were presented before the court. The judge at the Lusaka High Court also made some positive announcements few months before the final decision, when it was announced that final decision will be given based on the evidences and testimonials provided by both sides. However, the final judgment from Lusaka High Court turned out to be controversial as it was announced that Ventriglias were only shareholders of the Zambezi Portland Cement.

To counter this decision, Dr. Rajan Mahtani the approached the Court of Appeal. The Court of appeal is one of the highest civilian courts in Zambia and the judge at the Court of Appeal was justice Mwinde. The final decision from Court of Appeal came on 31st January 2019, and was given during the morning session. According to this final decision, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Zambezi Portland Cement with 58 percent shares at the factory. On the other hand, Ventriglias owned Ital Terrazzo Limited is minority shareholder of the Zambezi Portland Cement with just 42 percent shares at the factory. This decision from the Court of Appeal aligns with the original shareholders agreement which was established in the year 2007. As per this final decision, Dr. Rajan Mahtani is legal owner of the Zambezi Portland Cement factory.

The Court of Appeal has given a timeline of three months from the date of the judgment during which all share sales processes must be completed.