Details Of Original Shareholders Agreement Released By Court Of Appeal, Dr. Mahtani Wins Case

Dr. Rajan Lekhraj Mahtani has proved time and again that no matter how many difficulties and challenges are placed in his path, he will always follow the path to honesty, ethics and transparency. Despite the various challenges Dr. Mahtani has been facing over the years, he never shied away from being honest and following the rules and regulations. Even in case of Portland Cement Zambia, which can be easily considered as one of the biggest disappointments in the Zambia legal and judiciary system. After a successful stint of many years, Dr. Rajan Mahtani faced a difficult situation when the Zambezi Portland Cement factory was unethically taken over from him by goons. A case was launched at Lusaka High Court and even after patiently waiting for ten plus years, Dr. Mahtani received no respite when Lusaka HC judge offered the cement factory to the Ventriglias by declaring them as only shareholders.

However, this misdirected & controversial decision did not break Dr. Rajan Mahtani’s spirits and he took the bold yet right step of approaching the higher Court of Appeal. The Court of Appeal is among the highest civilian courts in Zambia and it did not disappoint Dr. Mahtani’s long wait. On 31st January 2019, the final results were declared. Justice Mwinde declared that according to the details provided in the original shareholders agreement which was established in the year 2007, it is clearly established that Dr. Rajan Lekhraj Mahtani via his company Finsbury Investments holds 58 percent shares of the ZPC limited. To further elaborate this claim, justice Mwinde shared the details written in the agreement which clearly stated a payment of 1 billion kwacha or USD 250,000 paid by Dr. Mahtani to the ZPC for taking over majority shares of the factory. This amount covered the entire share capital and no other costs attached with the agreement was left.