Dr. Rajan Mahtani
is a noted businessman, philanthropist and charity worker with more
than three decades of successful business experience in Zambia. Some
of his most successful companies are Mahtani Group of Companies,
Finsbury Investments and Finance Bank Zambia. He is also the rightful
owner of the Zambezi Portland Cement, a cement-manufacturing factory.
For the past ten years, Dr. Rajan Mahtani has been fighting a lone
battle at the Lusaka High Court for the rightful takeover of the
Zambezi Portland Cement. As a result of the several limitations and
shortcomings of the Zambian legal system, justice was delayed for
almost a decade. The judge who made the last announcement was Justice
Nkonde and even he failed to give a transparent and ethical
judgement. According to the final judgement from Lusaka High Court,
the Ventriglias were regarded as only shareholders of the ZambeziPortland Cement.
Since this
judgement was unethical, Dr. Rajan Mahtani then approached the Court
of Appeal. The judge from the Court of Appeal was Justice Mwinde who
gave the final judgement on 31st January 2019. According
to this judgement, Dr. Rajan Mahtani owned Finsbury Investments is
majority shareholder of the Zambezi Portland Cement factory with 58
percent shares. On the other hand, the Ventriglias owned Ital
Terrazzo Limited is the minority shareholder of the Zambezi Portland
Cement with only 42 percent shares. As per this shareholding pattern,
Dr. Rajan Mahtani becomes the legal owner of the Zambezi Portland
Cement factory.
While giving this
judgement, justice Mwinde from the Court of Appeal also condemned the
judgement from Lusaka High Court by announcing that the judge below
him was wrong in declaring Ventriglias as only shareholders without
any proof or evidence.
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