On 31st January 2019, the Court of Appeal announced its final judgement on the Portland Cement Zambia case. According to this judgement, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder of the factory. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and is the minority shareholder without any legal ownership over the factory. This decision from the Court of Appeal also aligned with the original shareholders agreement established in the year 2007 and further confirms Dr. Mahtani’s ownership over the factory. While giving this judgement, justice Mwinde from the Court of…
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Portland Cement Zambia Case Finalised, Dr. Rajan Mahtani Given Majority Shareholding & Ownership
The case of Portland Cement Zambia is known to all. First registered at the Lusaka High Court by Dr. Rajan Mahtani, the case stretched for more than a decade. Even after sharing numerous evidences and testimonials, the final judgement from the court was extremely controversial. According to this judgement which was given by justice Nkonde after more than a decade, Ventriglias were only shareholders of the Zambezi Portland Cement. To counter this decision, Dr. Rajan Mahtani then approached the Court of Appeal. The judgement from Court of Appeal came on 31st January 2019, around nine months after the case was registered there. The announcement was given by justice Mwinde during…
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Dr. Rajan Lekhraj Mahtani Announced Winner Of Portland Cement Zambia By Court Of Appeal
The final decision from the Court of Appeal on Portland Cement Zambia was a significant legal event in Zambia. Even average Zambian citizen is aware of the case of Portland Cement Zambia which was established almost a decade ago. The case was initially registered at the Lusaka High Court by noted businessman and philanthropist Dr. Rajan Mahtani who claimed that the factory was illegally taken over from him. Despite sharing numerous evidences and testimonials, the judgement at Lusaka High Court was delayed for more than a decade. Justice Nkonde was the judge who gave the final judgement during the month of May 2018. However, this judgement was extremely controversial…