As per Court of Appeal announcement, Dr. Rajan Mahtani is owner of Portland Cement Zambia factory

Honest and ethical businessmen often fall prey to corruption and challenges coming out of it. As a result, many of the businessmen and entrepreneurs who start with ethical practices are forced to follow the unethical and corrupt path for achieving success. On the other hand, there are only few businessmen left in Zambia who have been able to maintain a transparent and honest business ethics. One of them is Dr. Rajan Mahtani and this path has been extremely difficult for him. Dr. Rajan Mahtani registered the case of Portland Cement Zambia at the Lusaka High Court after the factory was illegally taken over from him. Despite sharing critical evidences, the final decision from the Lusaka High Court was controversial as Ventriglias were announced as only shareholders of the Zambezi Portland Cement.

To counter this judgement, Dr. Rajan Mahtani approached Court of Appeal. The judge at the Court of Appeal was justice Mwinde who gave the judgement on 31st January 2019 after looking into all evidences and testimonials. As per this decision, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Zambezi Portland Cement with 58 percent shares. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and are the minority shareholders without any legal ownership over the factory. This decision aligned with the original shareholders agreement which was established in the year 2007. Based on this decision, it is clearly established that Dr. Rajan Mahtani is the majority shareholder and actual owner of the Portland Cement Zambia factory.

Apart from the above judgement, justice Mwinde also discarded all forgery related allegations. It was found that the process of mechanically placing signatures for business transactions was a common practice in Zambezi Portland Cement. It was also found that critical member of the Ventriglia family, Claudio Ventriglia, engaged in similar practice. As a result, all forgery related allegations were found to be baseless and were discarded.