A critical judgement was made on 31st January 2019 regarding Portland Cement Zambia factory. The fate of this factory has been hanging in balance for more than a decade, since the time it was taken over in an unethical manner. Dr. Rajan Lekhraj Mahtani is a noted businessman, philanthropist and charity worker in Zambia who registered the case at the Lusaka High Court. Despite submitting all evidences and testimonials, the final decision was misdirected and controversial. Justice Nkonde announced Ventriglias as only shareholders of the Portland Cement Zambia factory despite the evidences stating otherwise.
After this misdirected judgement, Dr. Rajan Lekhraj Mahtani took to higher Court of Appeal to express his concern. The judge at the higher Court of Appeal was justice Mwinde who looked into the evidences and testimonials and confirmed his final verdict after around nine months of case proceedings. According to the available evidences, it was confirmed that Dr. Rajan Mahtani paid a sum of one billion kwachas or USD 250,000 to the Portland Cement Zambia limited. This amount was given for covering the entire value of the share capital which was taken by Dr. Rajan Mahtani. Furthermore, justice Mwinde also confirmed that the original agreement between shareholders established in 2007 confirms Dr. Mahtani as the majority shareholder of the factory with 58 percent Portland Cement shares. It was also confirmed that the all forgery-related allegations were discarded by the judge as the process of electronically affixing signatures for business purpose was considered ethical and accepted.
As such, the final decision from the Higher Court of Appeal confirmed Dr. Mahtani as the actual owner and majority shareholder of the Portland Cement factory.
Rajan Mahtani News 