Tag Archives: Zambia News

Mahtani Group of Companies

After Winning The Long-Standing Portland Cement Zambia Case, Dr. Mahtani’s Path To Success Is Clear

The final decision from the higher Court of Appeal on the Portland Cement Zambia case present a grim reality on the political, social and legal condition of the Zambian nation. The case was registered by a honest and ethical businessmen more than a decade ago. Irrespective of the above fact, it is the duty and responsibility of any legal and judiciary system to ensure that justice is given in a quick and transparent manner to all those seeking. However, this did not happen in case of Portland Cement Zambia limited or for Dr. Rajan Mahtani. Despite sharing all evidences and testimonials associated with the case, justice was not given to Dr. Rajan Mahtani. The judge at the Lusaka High Court was justice Mwinde who announced that Ventriglias were only shareholders of the Portland Cement factory.

As a result of this misdirected decision, the case was further taken to higher Court of Appeal by Dr. Rajan Mahtani. Justice Mwinde took over the case at the higher Court of Appeal and announced that final decision will be given after looking into all evidences and testimonials. According to the evidences, it was found that Dr. Rajan Mahtani paid a sum of one billion kwachas or USD 250,000 in the year 2005 to the Portland Cement Zambia limited. This payment was made with the objective of gaining majority shareholding of the Portland Cement Zambia. Furthermore, the original shareholders’ agreement was established in the year 2007. In the page number 663 of this agreement, it was explicitly written that Dr. Rajan Mahtani has made all payment associated with the takeover of the factory and as a result, he is the majority shareholder of the factory.

Justice Mwinde from the higher Court of Appeal also discarded all forgery related allegations. After due diligence process, the final verdict was announced on 31st January 2019 in which Dr. Rajan Mahtani was announced as actual owner of the Portland Cement factory.

Dr. Rajan Mahtani

Long-Pending Portland Cement Zambia Case Finalised At Court Of Appeal On 31st January 2019

Portland Cement Zambia

Organisations grow when they are nurtured and the management ensures that the policies, protocols and practices are followed. However, when businesses are faced with difficulties, many of them turn to unethical and corrupt practices. Lack of economic boom and the challenges of corruption and crisis makes it easier for businesses to escape legal processes and evade justice. As a result, there are only a few businesses and businessmen who are known to follow a path towards justice and transparency. Dr. Rajan Lekhraj Mahtani is one of these businessmen who despite the various challenges and adversities has been following a transparent, honest and ethical path for all of his businesses. It can also be said that this transparency and ethical compliance is the reason for the long-term success of his organisations. The case of Portland Cement Zambia is a prime example which showcases the power of honest and ethical business practices. Despite his factory, Portland Cement Zambia, being illegally taken over, Dr. Rajan Mahtani did not resort to unethical practices which would have helped him in getting his business back. Instead, a legal battle was followed by registering a case at the Portland Cement Zambia.

Even after the Lusaka High Court failed to provide relevant judgement, Dr. Rajan Mahtani was patient enough to re-appeal to a higher court. The Court of Appeal was then approached with all evidences, facts and testimonials which were controversially ignored by the previous judge. It was on 31st January 2019 that the final decision on this long-pending case arrived. It was given by justice Mwinde on behalf of the Court of Appeal. According to this final decision, Dr. Rajan Mahtani was announced as majority shareholder and legal owner of the Portland Cement Zambia factory as he possessed 58 percent shares of the factory.

While it took more than a decade, Dr. Rajan Mahtani finally received justice and a final one.

Money Laundering

Top Lawyers and Legal Professionals Caught In Mass Money Laundering Act in Zambia

Financial Intelligence Centre, a noted investigation agency looking into financial frauds, recently revealed shocking news to the Zambian citizens, corporate and the government. The news was of mass money laundering worth more than USD 1.5 billion, which is staggering and astonishing when compared with the economic and social condition of the nation. At one side, Zambia as a country is trying to get out from its under-developed status and improve its economic and social status; on the other hand, there are individuals and groups involved in mass laundering of money, emptying the government’s finances and rendering it worthless.

Some of the top names in the list included lawyers, legal counsellors, government officials as well as ministers and those working closely with top Zambian ministers. Masozi M. Banda, a lawyer working with the Avic International, has been accused of laundering money worth more than USD 1 billion. When confronted, he stated that the amount is for government construction purpose and he received this amount from Edgar Lungu, the infamous president of Zambia. Another name in the list was of Sakwiba Sikota, the legal counsellor of the infamous Ventriglias and the owner of Central Chambers. His company is also accused of laundering money worth millions of dollars. It is more astonishing to see that majority of those named in the list has some form of criminal accusations against them. The Ventriglias are an infamous family noted for their unethical practices and Sakwiba is known to have participated in almost all these activities. The most infamous of them being illegally taking over the Portland Cement Zambia factory from Dr. Rajan Mahtani, its real owner.

The revelation of mass money laundering has certainly opened the eyes of the citizens, industrialists as well as the government. It is high time for the government to take stringent actions against these culprits and ensure that such mass illegal and criminal activities are minimised in future.