Dr. Rajan Lekhraj Mahtani is going to remember the date 31st January 2019 for a long time. It is on this date, Dr. Mahtani was given a justice which was long overdue in the case of Portland Cement Zambia. This case goes long back to more than a decade when Dr. Rajan Lekhraj Mahtani first registered the case at the Lusaka High Court with the hope of getting quick justice, considering the fact that he had all required evidences and testimonials related to the case. However, despite sharing all these evidences, justice was not given to Dr. Mahtani as the judge from the Lusaka High Court confirmed Ventriglias as the only shareholders of Portland Cement.
This misleading judgement was countered at the higher Court of Appeal wherein justice Mwinde took over the case as the supreme court judge. After looking into all evidences, testimonials and other details shared by the parties on the case, final verdict was provided by justice on the said day. Based on the evidences, Dr. Rajan Lekhraj Mahtani was identified as the majority shareholder and legal owner of the factory. This was confirmed by the evidence indicating that Finsbury Investments transferred a sum of one billion kwachas or USD 250,000 to Zambezi Portland Cement. This payment was made in the year 2005 and the original shareholders’ agreement established in the year 2007 further confirmed this transfer in exchange for entire share capital value of the Portland Cement Zambia. Furthermore, the judge also cleared that Dr. Rajan Mahtani did not owe any further amount towards the 58 percent shares he owns at the factory.
All these evidences clearly identify Dr. Rajan Lekhraj Mahtani as the actual owner and majority shareholder of the factory.
This misleading judgement was countered at the higher Court of Appeal wherein justice Mwinde took over the case as the supreme court judge. After looking into all evidences, testimonials and other details shared by the parties on the case, final verdict was provided by justice on the said day. Based on the evidences, Dr. Rajan Lekhraj Mahtani was identified as the majority shareholder and legal owner of the factory. This was confirmed by the evidence indicating that Finsbury Investments transferred a sum of one billion kwachas or USD 250,000 to Zambezi Portland Cement. This payment was made in the year 2005 and the original shareholders’ agreement established in the year 2007 further confirmed this transfer in exchange for entire share capital value of the Portland Cement Zambia. Furthermore, the judge also cleared that Dr. Rajan Mahtani did not owe any further amount towards the 58 percent shares he owns at the factory.
All these evidences clearly identify Dr. Rajan Lekhraj Mahtani as the actual owner and majority shareholder of the factory.