The final declaration on the Portland Cement Zambia case was made on 31st January 2019. This decision was made at the Court of Appeal, the highest civilian judiciary system in Zambia and the second court to take over the case of Portland Cement Zambia limited. The first court was Lusaka High Court, a district-level high court that failed to provide the right justice in the case despite hanging the fate of the cement factory in balance. It can be said that it was Dr. Rajan Mahtani’s perseverance, patience and faith on the Zambian judiciary system which prompted him to take the case to the Court of Appeal despite the surprising loss at the Lusaka High Court.
Fortunately, the Court of Appeal lived up to its expectations. The judge at the Court of Appeal was justice Mwinde and he declared the final verdict on the case after evaluating the submitted evidences, all facts and testimonials from both parties. The first major evidence confirmed that Dr. Rajan Mahtani had indeed made a payment of one billion kwachas, equivalent of USD 250,000 to the Portland Cement Zambia limited. This payment covered the entire share capital value which Dr. Mahtani took over of the factory. The second major evidence was the original Shareholders’ Agreement, established in the year 2007. This agreement confirmed that Dr. Rajan Mahtani received ownership of 58 percent Portland Cement Zambia shares after making the said transfer. The agreement also confirmed that Dr. Mahtani is not liable for any further payments associated with the case.
Based on the evidences, the final verdict was made. Dr. Rajan Mahtani was given the ownership of the factory and the verdict from the previous court was deemed inadmissible.
Rajan Mahtani News 