Court Of Appeal Announces Final Verdict On The Portland Cement Zambia Case

For more than a decade, Dr. Rajan Mahtani fought for the legal takeover of the Portland Cement Zambia factory. Despite being his own company, Dr. Mahtani had to fight through legal channels for getting back his company. The case of Portland Cement Zambia is age old as it was established more than a decade ago by Dr. Rajan Mahtani himself. A case was registered at the Lusaka High Court claiming that the factory was unethically taken over from Dr. Rajan Mahtani. Despite having almost all evidences and testimonials, the final decision from the Lusaka High Court remained pending for more than a decade. Justice Nkonde gave the final decision on the case in the year 2018 but it was extremely controversial as Ventriglias were announced as actual owners and only shareholders of the Portland Cement factory despite not having proper evidences. 


Dr. Rajan Mahtani then approached the higher Court of Appeal. The judge at the higher Court of Appeal was justice Mwinde who announced the final decision on 31st January 2019. This decision was given based on several evidences. The first major evidence was transfer of one billion kwachas from Dr. Rajan Mahtani owned Finsbury Investments to the Portland Cement Zambia limited in the year 2005. The amount was transferred based on a legal contract which gave Dr. Rajan Mahtani ownership of majority shares at Portland Cement Zambia factory. Another major evidence was the stakeholders’ agreement in which Dr. Rajan Mahtani receives 58 percent shares of the Portland Cement Zambia factory. 

Based on the above evidences, Justice Mwinde on behalf of the higher Court of Appeal announced Dr. Rajan Mahtani as the majority shareholder and legal owner of the Portland Cement Zambia factory. 

Location: Zambia

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