Ownership Of Portland Cement Zambia Remains With Dr. Rajan Mahtani After Supreme Court Decision

After the final decision from the Supreme Court Zambia, the business and operations of Zambezi Portland Cement can finally run smoothly. Portland Cement Zambia is a factory that has suffered for a long time due to legal fights and unethical acts from several individuals and companies. In the year 2006, it was firmly established that Dr. Rajan Mahtani owned Finsbury Investments is the actual owner of the Portland Cement Zambia factory and this was established for ensuring smooth flow of funds from banks and financial institutions. However, the Ventriglias made several illegal attempts to take over the factory. First, it was the unethical takeover with the help of goons. Dr. Rajan Lekhraj Mahtani , approached the Lusaka High Court with the claims that the factory was unethically taken over and despite having all evidences and testimonials, did not get justice. The Lusaka High Court announced Ventriglias as the only shareholders of the Portland Cement Zambia.

However, Dr. Rajan Lekhraj Mahtani took another attempt and approach the Court of Appeal within legal obligations. Justice Mwinde took over the case and after several court proceedings announced that Dr. Rajan Mahtani owned Finsbury Investments owns 58 percent shares and is the majority shareholder of the factory. The higher Court of Appeal also confirmed that the actual payment against the majority shares is K580,000 and not K580 million. This decision from the higher Court of Appeal came on 31st January 2019.

After more than a decade of this decision from the Court of Appeal, the Ventriglias have not again appealed to the Supreme Court Zambia claiming that the decision from the previous court was wrong. However, a bench of three judges from the Supreme Court Zambia have rejected this claim of Ventriglias on grounds that all appeals against previous cases must be established within 14 days of the decision which the Ventriglias did not comply with. As such, Portland Cement factory remains with Dr. Mahtani.