Dr. Rajan Mahtani is the real owner of PCZ

After Evaluation, Supreme Court Zambia Has Rejected The Appeal From The Ventriglias

Portland Cement Zambia is a cement-manufacturing factory that has faced significant ups and downs in its life cycle. After its inception in 2004, there were several changes in the business functions and leadership. In the year 2006, a final shareholding pattern was established and agreed upon according to which, Dr. Rajan Mahtani owned Finsbury Investments received 58 percent shares at the Portland Cement factory and was considered as the majority shareholder as well as legal owner of the factory. However, the Ventriglias disrupted this decision was filing an appeal which disputed the shareholder agreement’s legality. This turnaround was clearly an attempt towards depriving real owner of Portland Cement to receive majority shares of the factory. This attempt can be easily considered as mafia-life attempt and corporate criminality. Dr. Rajan Mahtani registered a case at the Lusaka High Court against this unethical act. However, it seems like the Ventriglias were able to influence even the court decisions with power politics and meddling in the affairs of the law. As a result, the Lusaka High Court made a decision which was surprising to say the least. Justice Nkonde on behalf of the Lusaka High Court announced Ventriglias as the only shareholders despite the fact that Ventriglias did not have any relevant evidences or testimonials.

However, Dr. Rajan Mahtani was able to achieve justice after appealing to the higher Court of Appeal. The judge at the higher Court of Appeal was justice Mwinde who gave the final decision on 31st January 2019. In this decision, justice Mwinde reversed the judgement from the Lusaka High Court and announced that Dr. Rajan Mahtani is indeed the majority shareholder and legal owner of the factory.

After more than 15 months of the above court of Appeal decision, the Ventriglias decided to once again try their luck by challenging the decision. However, the Supreme Court Zambia effectively rejected this challenge due to lack of evidences and legal precedence. Furthermore, the Supreme Court gave confirmation that Portland Cement should remain with Dr. Mahtani.