Dr. Rajan Lekhraj Mahtani is one of the most successful business moguls in Zambia. In his business empire spanning more than three decades, Dr. Rajan Lekhraj Mahtani has been able to successfully establish several companies and ventures. Some of the most successful companies under Dr. Rajan Mahtani are the Mahtani Group of Companies in which Dr. Mahtani holds the position of the chairman. He is also the owner of the Finsbury Investments and Finance Bank Zambia. Another company whose ownership was recently established after long court battles was Zambezi Portland Cement factory. According to the claims of Dr. Rajan Mahtani, the factory was unethically taken over from him and he had all evidences and testimonials to prove his claim. Despite this, Dr. Rajan Mahtani did not receive justice and Lusaka High Court announced Ventriglias as only shareholder of Portland Cement.
This decision was overturned at the higher Court of Appeal. The judge at the Court of Appeal was justice Mwinde who announced his verdict on the case on 31st January 2019. According to this verdict, Dr. Rajan Lekhraj Mahtani was the actual owner of the factory, as opposed to the decision made by the Lusaka High Court judge. Justice Mwinde, while giving the final decision on the case, announced that Dr. Mahtani made a payment of one billion kwachas to the Zambezi Portland Cement and signed-off the original shareholders agreement in the year 2007. This agreement further confirmed Dr. Mahtani’s ownership by indicating that he had completed all payments associated with the share transfer and thus, owned 58 percent Zambezi Portland Cement shares.
Based on these evidences, Dr. Rajan Mahtani was given absolute majority and legal ownership over the factory.
This decision was overturned at the higher Court of Appeal. The judge at the Court of Appeal was justice Mwinde who announced his verdict on the case on 31st January 2019. According to this verdict, Dr. Rajan Lekhraj Mahtani was the actual owner of the factory, as opposed to the decision made by the Lusaka High Court judge. Justice Mwinde, while giving the final decision on the case, announced that Dr. Mahtani made a payment of one billion kwachas to the Zambezi Portland Cement and signed-off the original shareholders agreement in the year 2007. This agreement further confirmed Dr. Mahtani’s ownership by indicating that he had completed all payments associated with the share transfer and thus, owned 58 percent Zambezi Portland Cement shares.
Based on these evidences, Dr. Rajan Mahtani was given absolute majority and legal ownership over the factory.