Category Archives: Zambezi Portland Cement

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.

Verdict Of One Of The Biggest Corporate Cases Of Zambia, Portland Cement Zambia, Announced

It is a known fact that nations need to improve their legal and regulatory framework, laws and courts proceedings so that judgments are fast and efficiency of every individual working within the nation is improved. However, same cannot be said for the Zambian court and law system. The case of Portland Cement Zambia is dragged for almost ten years now.

Portland Cement Zambia

During this trial which stretched to more than ten years, Dr. Rajan Lekhraj Mahtani and his lawyers have submitted numerous evidences and documents that were more than enough to prove his legal ownership over the factory. Some of these documents included signed shareholder’s agreement, testimonials from critical and influential members of the factory, financial exhibits which clearly indicated that Dr. Mahtani has spent more than USD 12 million on the factory’s growth and development as well as investment reports. Dr. Mahtani also shared another critical evidence which was independent audit report conducted by an independent auditor. As per this report, the factory was established as joint venture agreement and Dr. Mahtani was the sole joint venture partner of the factory.

supreme court Zambia

Even the judge overseeing the case at the Lusaka High Court provided a positive announcement when the judge closed the case hearing for the case. This meant that the judge will not entertain anymore case hearings or trials and final judgment will be shared based on the evidences and testimonials shared by both parties. This was great news for Dr. Mahtani as his evidences were more than enough to prove his rightful claim over the factory. However, the judge made a surprise turn during the announcement of the final judgment. The final verdict was given against Dr. Mahtani’s claims, which was a shocking event. From this surprise judgment, it was clear that the verdict was misdirected and even influenced. Dr. Mahtani has now made an appeal to the ‘higher court of appeal’ after the dissatisfactory verdict from the Lusaka High Court.

Count Proceedings Completed, Judgment Await For Zambezi Portland

The last few months have been busy for Dr. Rajan Mahtani, a noted businessman and philanthropist in Zambia. He has been fighting a case at the Lusaka High Court for the ownership of Zambezi Portland Cement. This case stretched for over nine years and during this time, the condition of the factory deteriorated. This can be attributed to the negligence by Ventriglias, who are presently controlling the factory. The case was launched after Dr. Mahtani claimed that the factory was illegally taken over by the Ventriglias. At the same time, the Ventriglias counter-claimed that the shared that Dr. Mahtani owned in Zambezi Portland were not paid for.

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The Shareholder’s Dispute Related To Zambezi Portland Got New Direction

The Zambezi Portland Cement is a known cement factory in Zambia. The factory was started and run under the leadership of Dr. Rajan Mahtani, a noted businessman in the country. He is also known for his philanthropic activities and charitable contributions across the nation. His companies, Finsbury Investments and Mahtani Group of Industries have touched great heights in terms of success and growth. However, Dr. Mahtani has always been a ground person and when the Ventriglias took control of the Zambezi Portland illegally, Dr. Mahtani took the long but right path of approaching the court to fight for his ownership over the factory. However, the system failed him once again and it has been almost 10 years now without any conclusion or decision by the court.

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Final Judgement On Zambezi Portland Cement Deferred Again

In a yet another deferment, the Lusaka High Court has announced that the case of Zambezi Portland Cement will be announced later. While one positive point is that the case hearing is closed, experts are still sceptical regarding the time period that the court might take to provide final decision. This is due to the fact that the case has been pending in the court for more than nine years now. The case was launched by Finsbury Investments which is owned by Dr. Rajan Mahtani. It was launched after the Zambezi Portland Cement, which was then under Dr. Mahtani’s leadership, was illegally captured by the Ventriglias. Since then, various claims and counter-claims have been established by both parties without any final decision.

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Zambezi Portland Cement Awaits Judgement From Lusaka High Court

The Zambezi Portland Cement has been awaiting judgment from the Lusaka High Court for a long time now. The case was registered in the court almost nine years back and since then, it has been going on without any significant results. The case is between Dr. Rajan Mahtani, who owns the Finsbury Investments limited and the Ventriglias, who are the sole beneficiaries of Ital Terrazzo Limited. Both parties are claiming their ownership over the cement factory and both have submitted various evidences and statements to support their claim. However, the quality of evidence differs significantly among both parties.

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Lusaka High Court Has Finalised Its Court Proceedings, Judgement Awaited

Dr. Rajan Mahtani is among the most respected and trusted businessman of Zambia. He has established premier corporations such as Mahtani Group of Companies and Finsbury Investments. His business operations have reached foreign lands such as the United Kingdom. Currently, he is fighting for the rightful ownership of Zambezi Portland Cement which has been illegally captured by the Ventriglias.

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Conspiracy in Portland Cement Zambia continues

The minority shareholder of the Portland Cement Zambia, Ital Terrazzo Limited (ITL) continues to gain ground as the new publication misleads the locals. Zambia Reports, as usual, has tried its level best to achieve multiple objectives of its masters. On one hand, it has tried to preach everyone that Portland Cement Zambia has been acknowledged with the award of being the BEST EMPLOYER and on the other hand, it has done its regular business of defaming Dr. Rajan Mahtani, the Executive Chairman of Mahtani Group of Companies. In such regard, it can be well assumed that the conspirators are continuously trying to play cheap games with the Zambian public and Dr. Rajan Mahtani.

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The illusion about Portland Cement Zambia

In a prolific attempt to mislead the locals in Zambia, the Ventriglias have played another masterstroke in hiding the truth of Portland Cement Zambia. A publication with assistance from Zambia Reports has transformed them from villains to hero. However, the attempt has gone in vain as the people of Zambia are slowly realizing the true intent behind the article. When it comes to celebrating a fact, focus is usually on the subject and detailed information. But Zambia Reports is seen talking more about Dr. Rajan Mahtani, rather than focusing on the award.

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The Portland Cement Zambia Mafias continue to ignore the law

By now almost everyone in Ndola has become aware of the fact that Portland Cement Zambia has won itself an award for being the best employer of the year. People have come to know about this news with the aid of Zambia Reports, who are the loyalist of the Ventriglias- minority shareholders of ZPC. A lesser known fact that has been kept away from the locals is the attitude of the Ventriglia family towards Law & Order in Zambia.

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