Portland Cement Zambia Ownership Remains Undisturbed

 


Dr. Rajan Mahtani is a noted businessman in Zambia with significant businesses under his ownership. Some of the top successful companies in Zambia include Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. And based on the latest decision from the Supreme Court Zambia, Dr. Rajan Mahtani owned Finsbury Investments is also the bona fide owner of the Portland Cement Zambia. However, reaching this status was a difficult task for Dr. Rajan Mahtani as it included not one but three different courts. First it was Lusaka High Court where the case dragged for more than a decade and despite this long tenure, the final verdict was controversial with the judge announcing Ventriglia family as the only shareholder of the Portland Cement Zambia. After that, Dr. Rajan Mahtani approached the higher Court of Appeal which gave its final decision on 31st January 2019. In this verdict, the previous decision from the Lusaka High Court was reversed and justice Mwinde on behalf of the higher Court of Appeal announced that Dr. Rajan Mahtani is indeed the majority shareholder as well as legal owner of the Portland Cement Zambia factory. 

Unhappy with this transparent decision, the Ventriglia family once again approached the Supreme Court Zambia with their bizarre appeal, challenging the decision from the higher Court of Appeal on Portland Cement Zambia. The Supreme Court Zambia then established a bench of three Supreme Court judges for evaluating this bizarre claim by the Ventriglia and found that it was invalid. The claim did not comply with the legislation with requires cases to be submitted within 14 days of court decision. The claim was registered at the Supreme Court after more than 1.5 years and that is why the Supreme Court rejected this claim by the Ventriglia family. 

Location: Zambia

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