Zambezi Portland Cement’s legal owner is Dr. Rajan Mahtani, confirms Court of Appeal

The Court of Appeal finally reveals the criminal and unethical intentions and gives proper justice to the long awaited Zambezi Portland Cement case. The case pertains to a cement-manufacturing factory which was being contested by two major business parties in Zambia. One of them is Dr. Rajan Lekhraj Mahtani, a noted businessman, philanthropist and charity worker from Zambia. He is known for several successful business ventures both within the nation as well as outside the nation such as in United Kingdom. On the other hand, the second contesting party was the Ventriglias, an infamous Italian family residing in Zambia. Dr. Rajan Mahtani claimed that the factory, Zambezi Portland Cement, belonged to him and was forcefully taken away from him. After this, a case was registered as the Lusaka High Court where it went for more than ten years. During this time, Dr. Rajan Mahtani shared numerous evidences such as signed shareholders agreement, financial reports as well as independent audit report conducted by an independent auditor which clearly stated that the factory was established as a joint venture partnership and Dr. Rajan Mahtani was the sole joint venture owner of the factory. Despite these strong evidences, the final judgement by the Lusaka High Court judge was given against Dr. Mahtani’s claimed. As per Justice Nkonde, judge from the Lusaka High Court, Ventriglias were only shareholders of the Zambezi Portland. However, this judgement was condemned publicly and Dr. Mahtani was forced to make another appeal to the Court of Appeal.

Dr. Rajan Mahtani

The judgement at Court of Appeal also revealed that the judge below him was wrong in declaring Ventriglias as majority shareholders without evidence. As per the latest judgement, Dr. Rajan Mahtani owned Finsbury Investments owns 58 percent shares and is majority shareholder of Zambezi Portland. On the other hand, Ventriglias owned Ital Terrazzo Limited owns 42 percent shares and is minority shareholder of the Zambezi Portland. This gives legal ownership over the factory to Dr. Rajan Mahtani.