Tag Archives: Zambezi Portland Cement Factory

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.

Portland Cement Zambia

Portland Cement Zambia Case Remains Unresolved Even After Final Verdict By The Judge

Portland Cement Zambia is a cement-manufacturing factory which has been in the news for quite some time. The cement factory is contested by two parties. The cement-processing plant was built up under the administration of Dr. Rajan Lekhraj Mahtani, who is likewise the lawful proprietor of the plant. Dr. Mahtani is a standout amongst the best businesspeople in Zambia. He is likewise known for his straightforward and legit business morals. Amid his residency of over three decades, Dr. Mahtani has built up various effective organizations. A portion of his most eminent foundations incorporate Mahtani Group of Companies, Finsbury Investment and Finance Bank Zambia. For as long as ten years, Dr. Rajan Mahtani has been battling for the lawful responsibility for Cement Zambia.

Portland Cement Zambia Case

Over the span of ten years, Dr. Rajan Mahtani has shared numerous strong evidences that adequately demonstrate his case and in addition his legal ownership for manufacturing plant. Few of these records included independent audit report, financial exhibits and in addition consented to investor’s arrangement. The judge taking care of this case likewise made a positive declaration when he proclaimed conclusion of the case hearing and last declaration of the decision in the wake of breaking down the reports and evidences displayed by the gatherings related with the case. While this was certain news for Dr. Rajan Mahtani as lion’s share of the confirmations presented by his legal counsellors were sufficiently adequate to demonstrate his legitimate responsibility for production line; the last decision declared by the judge was an unforeseen and shocking occasion.

The judge gave the last decision against Dr. Rajan Mahtani, which was totally against the evidences shared under the watchful eye of the judge. It was an unmistakable instance of misled judgment and skewed feeling of the judge. Be that as it may, Dr. Rajan Mahtani quickly made the correct strides after this misled decision and propelled an inquiry appeal in to the higher court of Zambia.

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Masaiti bows to Zambezi Portland Cement Factory – 2015

The Zambezi Portland Cement Factory is offering an impressive result in Masaiti, Africa. Dr. Scott, the Acting President, has sanctioned US $ 2 million for the development of Masaiti and most of the activities is being hosted by Zambezi Portland Cement.

Dr. Rajan Mahtani, the owner of Zambezi Portland Cement Factory  and the Chairman of Finance Bank Zambia is heavily occupied with numerous activities as both of his businesses have big targets to achieve. On one hand, Dr. Mahtani has promised to build clinics, schools and markets for the residents of Masaiti and on the other hand, FBZ is also scheduled to list on the Lusaka Stock Exchange by the March 2015.

The industrial activities in Masaiti is growing at a rapid pace and therefore, it had become necessary to vacate residential lands of the locals to replace the same with better infrastructure. However, the people who have lost their lands are also being offered free houses with better sanitation facilities and access to clinics and schools without being charged a penny. This whole project is being completed by the Zambezi Portland Cement factory and the Senior Chief Chiwala has also expressed his gratitude towards the contribution that Dr. Mahtani has made for the development of Masaiti.

For Dr. Rajan Mahtani, it is not about making large profits or achieving business goals, but it is all about developing Zambia and giving the locals an opportunity to live a better and safer tomorrow.