Tag Archives: Rajan Mahtani

Zambia News

Dr. Rajan Lekhraj Mahtani is the ultimate owner of Zambezi Portland Cement, confirms Court of Appeal

Portland Cement Zambia is a factory in Zambia which has seen all ups and downs of the Zambian legal system. The factory is contested by two big business parties in Zambia and for the past ten years, was pending at the Lusaka High Court. Dr. Rajan Mahtani is one of the contenders and is among the rare few businessmen in Zambia who is still following a path of transparency and ethics, despite the numerous hardships and challenges of establishing business in a nation full of corruption and unethical practices. The case of Portland Cement Zambia was registered at Lusaka High Court by Dr. Rajan Mahtani himself, who claimed that the factory was illegally and unethically taken away from him. Despite sharing numerous evidences and factual data along with written and oral testimonies; the final judgement from the Lusaka High Court judge was controversial. According to the final judgement, the Ventriglias were considered as only shareholders of the Zambezi Portland Cement.

Dr. Rajan Mahtani

To counter this judgement and seeking transparent judgement one last time, Dr. Rajan Mahtani then approached to Court of Appeal. The Court of Appeal gave its final judgement on 31st January 2019. According to this judgement, Dr. Rajan Mahtani owned Finsbury Investment holds 58 percent shares at the Zambezi Portland Cement factory and is the majority shareholder of the cement factory. On the other hand, the Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and is the minority shareholder with no legal ownership over the factory. Thus, it is proved that Dr. Rajan Mahtani is the legal and only real owner of the factory.

During this verdict, the justice Mwinde from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as the only shareholders of the Zambezi Portland Cement as this decision was unethical and without any facts or evidences.

Zambia News

Court of Appeal at Zambia gives major decision on Portland Cement, Dr. Rajan Mahtani winner

The factual details and evidences given by Dr. Rajan Mahtani regarding Portland Cement Zambia were finally given true justice at the Court of Appeal. Dr. Rajan Mahtani is a noted businessman and philanthropist in Zambia and has been constantly building successful companies within the nation as well as across other international locations too. Some of his top companies are Finsbury Investments, Mahtani Group of Companies and Finance Bank Zambia. He is also known for his philanthropic and charitable activities and working towards the social and economic uplifting of the Zambian society. Despite these contributions, he is often targeted by jealous individuals and groups.

The case of Lusaka High Court can be considered as a big limitation of the Zambian legal system to provide transparent and ethical justice. Dr. Rajan Mahtani had initially approached the Lusaka High Court expecting a quick judgement as he had all evidences, factual details and testimonials to prove his legal ownership over the factory. However, the court proceedings stretched for ten years and despite this long tenure, the final judgement was not justified. The judge at the Lusaka High Court was justice Nkonde and he announced that Ventriglias were only shareholders of the Zambezi Portland Cement.

Considering this judgement to be unethical, Dr. Rajan Mahtani then approached the Court of Appeal, one of the highest civilian courts in Zambia. The Court of Appeal gave its final judgement on 31st January 2019. According to this judgement, 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 42 percent shares and is just minority shareholder of the Zambezi Portland Cement factory. This shareholding pattern also aligned with original shareholders agreement established in the year 2007. As such, Dr. Rajan Mahtani has been rightly announced as the legal owner of the Zambezi Portland Cement factory.

Zambia News

Dr. Rajan Mahtani is the final winner of the Zambezi Portland case, receives ownership with majority shareholding

While the judgement on the Portland Cement Zambia came at last, it came at significant cost. This cost was in the form of time during which the Zambezi Portland Cement factory degraded to the extent of closure. This cost was also in the form of time and money spent by honest businessmen like Dr. Rajan Mahtani who spent an entire decade seeking justice from the Lusaka High Court. Despite spending this significant cost, Dr. Rajan Mahtani was not given justice by the court when the final decision was made. According to this decision by Justice Nkonde at the Lusaka HC, Ventriglias were held as only stakeholders of the Zambezi Portland Cement. Naturally, this decision caused a stir everywhere and Dr. Rajan Mahtani was forced to take the case to higher Court of Appeal.

The Court of Appeal announced its final judgement on 31st January 2019. The decision was given by Justice Mwinde and safe to say that the highest court within the Zambian nation did not disappoint. According to this decision by the Court of Appeal, Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder of the Zambezi Portland Cement. On the other hand, Ventriglias are the minority shareholder of the Zambezi Portland Cement with only 42 percent shares. According to this shareholding pattern, Dr. Rajan Mahtani owned Finsbury Investments is the legal owner of the Zambezi Portland factory. This decision is in line with the original Shareholders Agreement which was established in the year 2007. Furthermore, while giving this decision, the judge at the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders of Zambezi Portland Cement without any evidence or factual confirmation.

As of now, a timeline of three months from the date of the judgement has been provided by the justice at the Court of Appeal during which all share regularization process must be completed.

Zambia News

Court of Appeal announces final judgement on Portland Cement Zambia, Finsbury Investments winner

Court of Appeal is one of the highest decision-making bodies across any nation. It has similar repute as the Supreme Court of any nation. As such, any decision given by the Court of Appeal is of umpteen importance and is considered as the final judgment. In case of the Zambezi Portland Cement, the final decision was given by the Court of Appeal on 31st January 2019. According to this decision, Dr. Rajan Mahtani is the majority shareholder and legal owner of the Zambezi Portland Cement. By giving this decision, the judge from the Court of Appeal effectively reversed the judgment by the Lusaka High Court given last year. The judge from the Lusaka High Court, Justice Nkonde, gave decision on May 2018 that Ventriglias were only shareholders of the Zambezi Portland Cement. Contesting this decision, Dr. Rajan Mahtani then approached the Court of Appeal which announced its decision nine months later.

The judge from the Court of Appeal was Justice Mwinde who also said that the judge below him was wrong in declaring Ventriglias as only shareholders without having any proof or evidence. Furthermore, forgery allegations were charged by the Ventriglias which were completely discarded by the judge. Justice Mwinde gave the final decision that the process of mechanically placing signatures for business transactions was a common practice across Zambezi Portland Cement and in fact, member of Ventriglia family engaged in similar practices. Furthermore, the Court of Appeal gave a time period of three months from judgment date during which all parties are required to finalize on the process of share regularization process.

In the meantime, Finsbury Investments have claimed a sum of K1 billion against the payment made for entire share capital issues of Zambezi Portland Cement. The payment has been confirmed by the Court of Appeal with evidences of payments during late 2006 and early 2007.

Zambia News

Court of Appeal Has Finally Ruled The Final Judgment Of Zambezi Portland In Favour Of Dr. Mahtani

It was truly breaking news on 31st January 2019 when the Court of Appeal ruled the final judgment in favor of Dr. Rajan Mahtani. The case pertains to Zambezi Portland Cement, a noted cement manufacturing factory in Zambia which has been contested by two biggest business houses in Zambia. One of them is Dr. Rajan Mahtani, a noted businessman and philanthropist. The other contender is Ventriglia family, owner of Ital Terrazzo Limited in Zambia. The case was taken to Court of Appeal after the original decision at the Lusaka High Court went sideways. Justice Nkonde from Lusaka High Court declared on May 2018 that the Ventriglias were only shareholders of the Zambezi Portland Cement. However, this decision was misdirected prompting Dr. Mahtani to approach Court of Appeal.

Portland Cement Zambia

The Judge from the Court of Appeal announced that Dr. Rajan Mahtani owned Finsbury investments is majority shareholder of Zambezi Portland Cement with 58 percent shares. On the other hand, Ventriglias are minority shareholders with 42 percent shares. This shareholding pattern is in line with the original shareholders agreement which was established in the year 2005. While giving this judgment, Justice Mwinde from Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders without having any proof or evidence. With this judgment from the Court of Appeal, it is finalized that Finsbury Investments is the majority shareholder of Zambezi Portland Cement.

Furthermore, the Court of Appeal during the judgment process also revealed that Finsbury Investments paid a sum of K580,000,000 with interest to the court as commercial registry. This commercial registration was done in compliance with the judgment from the Court. At the same time, Finsbury Investments has also claimed a sum of K1 billion against payment made towards entire share capital of Zambezi Portland. Also, the Court of Appeal has given a timeline of three months from the judgement date to finalize on the process of sales regularization.

Dr. Mahtani & Zambia

Unjustified Judgment At The Lusaka High Court Locked Down, Dr. Mahtani Wins Back Portland Cement

A historical judgement was established on 31st January 2019 when the Court of Appeal at Zambia declared the results for Zambezi Portland Cement. In this judgment, the recently given judgement on the cement factory at the Lusaka High Court was reversed effectively. The original case of Zambezi Portland was registered by Dr. Rajan Mahtani, a noted businessman and entrepreneur in Zambia. Dr. Rajan Mahtani is known for his numerous successful ventures across Zambia and foreign locations such as United Kingdom. He is also known for his charitable activities and philanthropic works. After the factory was illegally taken over by the Ventriglias, a case was registered at the Lusaka High Court. However, judgement came too late and too little. Justice Nkonde at the Lusaka High Court gave judgment against Dr. Rajan Mahtani despite all evidences stating otherwise. This led to Dr. Mahtani registering another appeal at the Higher Court of Appeal.

Dr. Rajan Mahtani

The judgement at the Court of Appeal was delivered by Justice Mwinde which effectively reversed the judgement at the Lusaka High Court which held Ventriglias to be only shareholders of the Zambezi Portland Cement. Justice Mwinde also iterated that the justice below him, Justice Nkonde was wrong in declaring Ventriglias as only shareholders when there was not enough evidence to support this judgement. As per the new judgement at Court of Appeal, Finsbury Investments is the majority shareholder of Zambezi Portland Cement with 58 percent shares and the Ventriglias hold 42 percent shares at the factory. This gives Dr. Mahtani owned Finsbury Investments Power of Attorney over the factory. This final judgment is also in line with the original shareholders agreement which was established in the year 2007.

As per the latest agreement, Finsbury Investment has paid a sum of K580, 000, 000 for commercial registration with interest as per the compliance. As such, the court has provided a timeline of three months for both parties to re-establish the shareholding patterns as per the new judgment.

Zambia News

Dr. Rajan Lekhraj Mahtani Majority Shareholder Of Zambezi Portland Cement, Court Of Appeal Announced Its Decision

The court of Appeal on 31st January 2019 made one of the most important decisions of the year. This decision is related to Zambezi Portland, a noted cement manufacturing factory in Zambia. Another important name associated with the factory is Dr. Rajan Mahtani, a noted businessman and philanthropist with more than three decades of sucessfull business experience in Zambia. Dr. Rajan Mahtani had been fighting a case at the Lusaka High Court for more than a decade. Despite sharing numerous critical evidence and testimonials, the final judgement was given against his claims. After this decision, Dr. Rajan Mahtani approached the Court of Appeal.

Rajan Mahtani

After around eight months from the Lusaka HC decision, the judge from the Court of Appeal reversed it. Justice Mwinde Siavwapa iterated that the judge below him, Justice Nkonde, was wrong in declaring Ventriglias as only shareholders without considering the evidences. As per the latest judgment at Court of Appeal, Finsbury Investments owned by Dr. Rajan Mahtani is the majority shareholder with 58 percent shares at the Zambezi Portland. On the other hand, Ventriglias with 42 percent shares are the minority shareholders. According to the original shareholders agreement, the factory was established as a joint venture and Dr. Rajan Mahtani was the sole joint venture owner with majority shared. Finally the agreement was accepted and established before the Court of Appeal and the legal ownership has been transferred to Finsbury Investments.

All allegations of forgery have been discarded as the judge held that placing mechanical signatures is common across Zambian corporate and industry practices and the Ventriglias family member, Claudio Ventriglia, having engaged in similar activity cannot claim forgery against others doing the same. The judge at the Court of Appeal also announced that the parties need to process the sale of the shares and complete the procedure within three months from the date of judgment, which is 31st January 2019.

Zambia News

Dr. Mahtani Will Continue To Fight For Portland Cement Zambia After Lusaka HC Announced Its Verdict

Dr. Rajan Lekhraj Mahtani is a noted businessman in Zambia. He considers himself as the proud citizen of the Zambian nation. He has been working in Zambia for more than thirty years and during this time, has established numerous successful businesses both domestically as well as across several foreign nations. Some of his most notable businesses in Zambia are Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. He is also known for his charitable contributions and philanthropic activities across the nation. His connections and network across developed nations such as United Kingdom has helped him in bringing several foreign investments in Zambia. He is also the legal owner of Portland Cement Zambia, a cement-manufacturing factory which was founded with the objective of providing affordable and high-quality Portland cement to Zambian citizens. However, the factory was illegally taken over by scrupulous individuals and for the past ten years, Dr. Rajan Mahtani has been fighting the case at the Lusaka High Court. Since then, Dr. Rajan Mahtani has been working tirelessly to get back his factory. The case was running at the Lusaka High Court for the past ten years and only recently the final judgement was given.

Dr. Mahtani

During the course of these ten years, the condition of the factory has degraded significantly. The factory assets have corroded and the factory cashbox has been completely emptied. While more than half of the workers and employees have left the factory, those working have not received wages for several months. At the same time, the judges overlooking the cases during the course of ten years were not convinced that Dr. Rajan Mahtani was the real owner of the factory, despite sharing several crucial evidences. It is clear that the decision making was influenced when the final judgment was given and it was against Dr. Rajan Mahtani’s claims. As such, Dr. Mahtani took the right step and has launched another appeal to ‘higher court of appeal’ wherein his request for revisiting the judgment is expected to be heard soon.

Dr. Mahtani & Zambia

Dr. Rajan Lekhraj Mahtani Innocent- Supreme Court Judge Gives Testimony Regarding 2012 Case

The Supreme Court Zambia Judge Mumba Malila recently gave a testimony before the court which clearly indicates that Zambia is in dire need of policies and practices that would help in eradicating corruption and unethical practices that have crippled the nation like a plague. In his testimony, Justice Mumba Malila opened about a case of Dr. Rajan Mahtani, a noted businessman and philanthropist in Zambia with more than thirty years of business experience. The case in the said testimony was in 2012 related to Dr. Mahtani in which the final judgement was given against him. However, the testimony from the judge states that the judgement was plagues by external forces and the case was against the interests of the public policies. The judge who was the Attorney General during that time along with others tried to make the case ‘null and void’ due to its irrelevant nature, but the tribunal did not change its decision and the final judgement was given against Dr. Rajan Mahtani, even though the evidences and facts presented denoted otherwise. Those who tried to raise their void were also silenced by removal from their positions.

Dr. Rajan Mahtani

This is not the first time that Dr. Rajan Mahtani has been a victim of poor decision making from courts which sidelined the evidences and facts and gave judgement overpowered by corrupt external forces. Justice Mumba Malila confirmed that the decision making was influenced by certain corrupt yet powerful individuals including businessmen and even politicians. As a result of the corrupt practices of these powerful individuals, large scale citizens and transparent businessmen like Dr. Rajan Mahtani keep suffering. It is high time for the Zambian government and the law makers to take actions against these widespread corrupt practices and improve the condition of the nation so that there is room for further development and growth for the people.

Dr. Mahtani & Zambia

Dr. Rajan Mahtani’s Innocence In 2012 Case Proved With The Testimony Of SC Judge

The recent testimony from the Supreme Court Justice is a clear indication that Zambian nation is in urgent need of stringent policies and regulation for curbing the ever-increasing corruption. Honourable Justice Mumba Malila currently holds the position of a judge at the Supreme Court of Zambia. He recently provided a testimony exposing the truth regarding numerous corrupt practices occurring within the state of Zambia. In his testimony, he detailed the issues pertaining to a case of 2012 involving Dr. Rajan Lekhraj Mahtani.

Dr. Rajan Mahtani

Dr. Rajan Mahtani is a noted businessman and philanthropist in Zambia. He is the owner of several successful business ventures such as Mahtani group of Companies, Finance Bank Zambia and Finsbury Investments. He is also an avid charity worker and is known to support numerous social and environmental events for the development of the society and the economy. He is also among the most attacked businessmen in Zambia, majorly due to his honest and transparent business ethics and his refusal to establish any relationship with corrupt and unethical businesses. In his testimony, Judge Mumba Malila stated that the 2012 case involving Dr. Rajan Mahtani was motivated by several political undertones and was against the interests of the public policies. Mumba Malila was the Attorney General during that period and has requested the tribunal to make the case null and void as it was unethical and influenced by external forces. However, the decision by the Tribunal was not reversed and even after widespread condemning, the case went against Dr. Rajan Mahtani.

Now the truth is clear as the testimony throws light on what actually happened. In his testimony, the judge also condemned the fact that due to the political power of some greedy individuals and institutions, honest and transparent businessmen like Dr. Rajan Mahtani are often at the victims of false pretence and false allegations. It is time for the government to take strict actions against these corrupt practices.