Dr. Rajan Mahtani’s Fight With The Ventriglias For Portland Cement Zambia Is Over, Wins Case


Dr. Rajan Lekhraj Mahtani is a noted businessman, philanthropist and charity worker in Zambia. He is known for numerous successful businesses in Zambia, including Finsbury Investments, Mahtani Group of Companies and Finance Bank Zambia. Dr. Rajan Mahtani took over the ownership of Portland Cement Zambia in the year 2005 and since then, transformed the company into one of the most productive cement-manufacturing companies in Zambia. This streak continued for a few years before the unethical and illegal takeover of the Portland Cement Zambia factory. Dr. Rajan Mahtani claimed that the factory was unethically taken over from him and in response, registered a case at the Lusaka High Court. Evidences, testimonials as well as facts were submitted with the expectations of quick resolution and straightforward verdict. However, the case took more than a decade to confirm its final verdict on Portland Cement. Justice Nkonde, who announced the final verdict, announced that Ventriglias were only majority shareholders of Portland Cement. 

Dr. Rajan Mahtani was sure that this decision from the Lusaka High Court was influenced by external forces and as a result, approached the higher Court of Appeal. The judge who took over the case at the higher Court of Appeal was justice Mwinde and he announced his final verdict on 31st January 2019. According to this verdict, Dr. Mahtani took over majority shareholding of the Portland Cement Zambia after making a payment of one billion kwachas. This transaction was officially captured in the original shareholders’ agreement established in the year 2007. 

Based on the available evidences and testimonials, the final verdict confirmed Dr. Mahtani as the majority shareholder and legal owner of the factory. 
Location: Zambia

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