Dr. Rajan Mahtani Finally Given Legal Ownership Of Portland Cement With Court Announcement

After more than a decade of patient wait, Dr. Rajan Mahtani was finally relieved when he was given the legal ownership of Portland Cement Zambia. In this way, the criminal intentions of the Ventriglias family were also knocked down. This judgement came on 31st January 2019 when the judge at the Court of Appeal gave the judgement on the case. It should be noted here that the case was established more than a decade ago at the Lusaka High Court when Dr. Rajan Mahtani first claimed that his factory, Portland Cement Zambia, was illegally taken over from him. During this time, numerous evidences and testimonials were shared by Dr. Rajan Mahtani and his lawyers. It was also found that around few months before the final judgement at the Lusaka High Court, the judge closed all case proceedings and confirmed that the final decision will be given based on testimonials and evidences. However, when the final decision came from justice Nkonde of the Lusaka High Court, it shocked everyone. As per the final decision from the Lusaka High Court judge, Ventriglias were announced as only shareholders of the Zambezi Portland Cement. Since this decision was controversial, Dr. Rajan Mahtani then took to Court of Appeal.

The judge at 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 holds 58 percent shares at the factory and is the majority shareholder of the Portland Cement Zambia factory. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares and is the minority shareholder without any legal ownership over the factory. Based on this decision which also aligned with the original shareholders agreement, it is clear that Dr. Rajan Mahtani is the legal owner of the Portland Cement Zambia factory. While giving this judgement, justice Mwinde from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders as this decision was misdirected and against the interests of the public policies.