Tag Archives: Mahtani Group of Companies

Dr Rajan Lekhraj Mahtani

Dr. Rajan Lekhraj Mahtani Finally Receives The Fruit Of Patience, Announced Owner Of Portland Cement

The way Dr. Rajan Mahtani stuck to ethics, honesty and transparency despite the significant challenges thrown at him from all sides is commendable. It has now been proved that the Lusaka High Court judge was involved in a misdirected judgement by announcing the Ventriglias as only shareholders of the Portland Cement. Despite this huge mistake by the Zambian governing body, Dr. Rajan Lekhraj Mahtani did not bulge from his beliefs and standings and quietly approached the higher Court of Appeal. While many media outlets were found to be against this move by Dr. Rajan Mahtani spreading negative and false news, Dr. Rajan Mahtani still believed that the highest judiciary system in Zambia is the only place where he will receive justice. And he was not failed as he always believed that truth always triumphs over injustice and unethical acts. Those media and news outlets sharing negative news about Dr. Rajan Lekhraj Mahtani were found to be fake and bribed, paid to spread negative and fake news Dr. Mahtani to reduce his morals and confidence. However, these media outlets did not understand that it is next to impossible to question an individual who has remained ethical and transparent his entire life.

The final verdict from the higher Court of Appeal came on 31st January 2019. According to the higher Court of Appeal’s final verdict, Dr. Rajan Mahtani paid a sum of USD 250,000 or one billion kwachas to the Zambezi Portland Cement limited which covered the entire capital value of the shares which Dr. Rajan Mahtani took over. Furthermore, the original shareholders agreement which was established in the year 2007 further confirmed the same. In the page number 663 of this shareholder’s agreement, it was clearly established that Dr. Rajan Mahtani paid the entire costs of the 58 percent shares associated with the factory. Based on this shareholding pattern, Dr. Rajan Lekhraj Mahtani becomes the majority shareholder and actual owner of the factory.

Dr Rajan Lekhraj Mahtani

Historic win for Dr. Mahtani despite challenges and shortcomings of Zambian legal system

Dr. Rajan Mahtani is the real owner of PCZ

After a long battle across two courts, Dr. Mahtani is finally the winner of the Portland Cement Zambia case. After the Lusaka High Court failed to provide any decision, the higher Court of Appeal was approached. It is the highest-level justice system in Zambia and expectations were high. The judge at the Court of Appeal was justice Mwinde and he did not disappoint. Unlike the previous judge, justice Mwinde shared all evidences while declaring his final decision on the case. The most important evidence was that Dr. Mahtani had made a payment of one billion kwachas which equals 250000 US dollars to the Zambezi Portland Cement in exchange for 58 percent shares at the Zambezi Portland Cement factory. This exchange was made in the year 2005 and was further officially written in the original shareholders’ agreement established in the year 2007. Justice Mwinde said that the page number 663, volume-record of appeal of this shareholders’ agreement clearly indicated that Dr. Mahtani has already made the entire payment for the 58 percent shares he owns at the factory and is free from any other charges associated with the case. The details from this original report also indicated that the responsibility of PTT (Property Transfer Tax) was on the transferor and not the transferee.

Furthermore, justice Mwinde also cleared the air around the issue of forgery and fraud in the factory. According to the judge, electronic affixing of signatures was common and acceptable practice at Zambezi Portland Cement for conducting business transactions. As such, all fraud or forgery related appeals were then and there discarded. These details were shared on 31st January 2019 and on this date only the final decision on the Zambezi Portland Cement was announced. While giving this crucial judgement, justice Mwinde also condemned the judge from the lower court for their inability to provide justice despite having all evidences and facts to prove Dr. Mahtani’s innocence and legal ownership over the factory.

Dr. Rajan Mahtani

Verdict from higher Court of Appeal overthrows Lusaka High Court’s unethical judgement

The judge at the Court of Appeal who oversaw the case of Zambezi Portland Cement was justice Mwinde. On 31st January 2019, Dr. Rajan Mahtani received a blessed justice from the higher Court of Appeal when it was declared that Dr. Mahtani is owns majority shareholding of Portland Cement and is the real owner of the Portland Cement Zambia factory. However, this decision came more than a decade after the case was originally registered at the Lusaka High Court. Unlike the verdict from the Lusaka High Court which has been widely recognised as unethical and misdirected as well as too long, the judgement at the Higher Court of Appeal was quick, transparent, to the point and declared the verdict as per the available evidences and testimonials. It should also be noted here that the case was declared within a short span of nine months.

According to the details shared by the judge, it was found that Dr. Rajan Mahtani owned Finsbury Investments paid a total sum of one billion kwachas or USD 250,000 in exchange for the entire share capital value of the Zambezi Portland Cement. While this exchange took place in the year 2005, the details of this exchange were clearly established in the year 2007 in the original agreement between shareholders. Based on this evidence, it was established that Dr. Rajan Mahtani took over 58 percent shares of the Portland Cement Zambia and did not own any further costs associated with the factory. For instance, justice Mwinde declared that the PTT (property Transfer Tax) associated with the exchange as the responsibility of the vendors or the transferors. All these evidences were strong enough to prove that Dr. Rajan Mahtani was the majority shareholder and this legal owner of the factory.

Furthermore, the judge at the Court of Appeal also gave a timeline of three months from the date of the judgement for completing all share transfers related activities based on the court of Appeal’s decision.

Dr Rajan Lekhraj Mahtani

Dr. Rajan Lekhraj Mahtani Provides Significant Details To Court Of Appeal, Wins Portland Cement Case

Apart from the case of the Zambezi Portland Cement, majority of the business ventures of Dr. Rajan Lekhraj Mahtani has been quite successful. Dr. Mahtani is the proud owner of the Finsbury Investments, Mahtani Group of Companies and Finance Bank Zambia. In case of the Zambezi Portland Cement, Dr. Mahtani had to go through a court battle which lasted for more than a decade. The case started with the unethical takeover of the Portland Cement Zambia factory by goons which prompted Dr. Mahtani to take action by approaching the Lusaka High Court. However, it was not before 2018, that the Lusaka High Court provided its final decision on the case. The judge who gave the final decision on the case was justice Nkonde and he declared that Ventriglias were only shareholders of the Portland Cement Zambia.

Considering this was a misdirected decision, Dr. Rajan Mahtani approached the higher Court of Appeal for justice. And On 31st January 2019 after around nine months of court proceedings, final judgement was given. According to the final verdict of justice Mwinde, Dr. Rajan Mahtani was found to be the majority shareholder and legal owner of the factory. To arrive at this decision, several evidences were evaluated. The most important evidence of them all was the proof of financial transaction of one billion kwachas or equivalent USD 250,000 from Dr. Rajan Mahtani owned Finsbury Investments to Zambezi Portland Cement. This financial transaction was completed in the year 2005 and was further written in details in the 2007-formed original agreement among shareholders. This original shareholders’ agreement also clarified that Dr. Rajan Mahtani received 58 percent Portland Cement Zambia shared with his financial transaction and does not owe any further costs associated with the Zambezi Portland Cement factory.

Based on the above evidences, it has been clarified now that Dr. Rajan Lekhraj Mahtani is the actual owner of the Portland Cement Zambia 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.

Dr. Rajan Mahtani

Final Results From Court Of Appeal Gives Hope To Dr. Mahtani, Wins Long-Pending Case

Just like any developing nation within the African subcontinent, Zambia has also its share of numerous ups and down. While the nation has shown development from several fronts, it is also facing several difficulties especially in the area of corruption and unethical practices. Even the government institutions such as courts and legal systems are unable to escape this mess. The example of Dr. Rajan Mahtani and the case of Portland Cement Zambia is a prime example. Dr. Rajan Mahtani is a respected businessman which several successful ventures in Zambia and outside. His companies like Finsbury Investments and Mahtani Group of Companies have received significant success and are known for their ethical and transparent business practices. In a similar manner, Dr. Rajan Mahtani built the Portland Cement Zambia, a cement-manufacturing factory.

This cement factory was unethically taken over from him. After this, Dr. Rajan Mahtani approached the Court of Appeal where the case went for more than a decade without final decision. Despite this, Dr. Rajan Mahtani was not given justice as the judge at the Lusaka High Court announced that Ventriglias were only shareholders of the Portland Cement Zambia. After this, Dr. Rajan Mahtani was left with no option but to approach the Court of Appeal and rightly so. The Court of Appeal lived up to its expectations and on 31st January 2019, the final results for the case were declared. This was just nine months after Dr. Rajan Mahtani re-appealed. The judge at the Court of Appeal was justice Mwinde and he gave the final decision only after looking into all evidences and testimonials. According to this decision, Finsbury Investments holds 58 percent shares at the factory and Ital Terrazzo Limited holds 42 percent shares at the factory. Finsbury Investments is a company owned by Dr. Rajan Mahtani and the Ventriglias hold accountability for the entity Ital Terrazzo Limited.

From this decision from the Court of Appeal, it is clear that Dr. Rajan Mahtani is the only owner of the Portland Cement Zambia factory.

Zambia News

Dr. Rajan Lekhraj Mahtani Finally Receives Justice, Portland Cement Zambia Case Decision Announced

The path of transparency and honesty might e difficult, but it surely leads to success and achievement in the long run. This holds true in case of Portland Cement Zambia case. Dr. Rajan Mahtani had registered a case at the Lusaka High Court almost a decade ago. This case was launched for legal takeover of the Portland Cement Zambia factory. Reports have clearly indicated that Dr. Rajan Mahtani had all evidences, testimonials and facts to support his claim. Despite this, it took more than a decade for the Lusaka High Court to announce the final judgement. The judge at the Lusaka High Court was justice Nkonde who announced that Ventriglias were only shareholders of the Portland Cement Zambia. It was clear that this decision was misdirected and as a result, Dr. Rajan Mahtani rightfully approached the Court of Appeal.

The judge at the Court of Appeal was justice Mwinde who gave the final decision on 31st January 2019. This decision was given around nine months after the case was initially registered there. This clearly indicates a sharp difference between the judgement processes of the two courts. The judge at the Court of Appeal announced the judgement after looking into all evidences and testimonials associated with the case. As per this final decision, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder of the Portland Cement Zambia factory. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and are the minority shareholders without any legal ownership over the factory. This decision from the Court of Appeal also aligned with the original shareholders agreement and clearly confirmed that Dr. Mahtani is the actual owner of the factory. Furthermore, the judge from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders as this decision was misdirected.

Dr. Mahtani & Zambia

Ownership Of Portland Cement Zambia Given Back To Dr. Mahtani, Court Of Appeal Confirms Case

For the past decade, Dr. Rajan Lekhraj Mahtani fought for the legal takeover of the Portland Cement Zambia factory. The battle started when Dr. Rajan Mahtani initially registered a case at the Lusaka High Court after claiming that his factory was illegally taken over from him. Despite sharing numerous evidences and testimonials, the final justice from the Lusaka High Court was controversial and Dr. Rajan Mahtani was taken aback. The judge at the Lusaka High Court was justice Mwinde and according to his final decision, Ventriglias were the only shareholders of the Zambezi Portland Cement. This decision was misdirected and to counter this decision, Dr. Rajan Mahtani took the case to the Court of Appeal.

The Court of Appeal is one of the highest legal and judiciary systems in Zambia. The judge at the Court of Appeal was justice Mwinde who gave the final decision on the Portland Cement Zambia case on 31st January 2019. According to this decision, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and are the majority shareholders of the Zambezi Portland Cement. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and are the minority shareholders without any legal ownership over the factory. This decision from the Court of Appeal aligned with the original shareholders agreement established in the year 2007. Therefore, the decision from the Court of Appeal clearly establishes the fact that Dr. Rajan Mahtani is the legal owner of the Portland Cement Zambia factory.

While giving this decision, Justice Mwinde from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders of the Zambezi Portland as this decision was misdirected and without any evidence. Furthermore, a timeline of three months from the date of the judgement has been given during which all share sales and regulations related activities must be completed.

Zambia News

Court Of Appeal Announces Results On Portland Cement Zambia, Dr. Rajan Mahtani Winner

For more than a decade, Dr. Rajan Mahtani struggled for the legal ownership of Portland Cement Zambia factory. This struggle started when the factory was illegally taken over from him and he registered a case at the Lusaka High Court to get back his factory. However, it took more than a decade for the judge to announce a final decision on the case. At the same time, the final decision from the Lusaka High Court on Portland Cement was extremely controversial. The judge at the Lusaka High Court was justice Nkonde and he announced that Ventriglias were only shareholders of the Zambezi Portland Cement. After this misdirected judgement, Dr. Rajan Mahtani had no option but to approach the Court of Appeal.

The judge at the Court of Appeal was justice Mwinde who gave the final decision on the case on 31st January 2019. This judgement came around nine months after the case was registered at the Lusaka High Court. Justice Mwinde gave the final decision after looking into all evidences and testimonials associated with the case. As per the final judgement, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Zambezi Portland Cement with 58 percent shares. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares and is the minority shareholder without any legal ownership over the factory. This decision aligned with the original shareholders agreement established in 2007 and based on this decision, it is clear that Dr. Rajan Mahtani is the actual and legal owner of the Portland Cement Zambia factory.

While giving the judgement, justice Mwinde also discarded all forgery related allegations. It was found that the process of mechanically placing signatures was a common practice in Zambezi Portland Cement and critical member of the Ventriglias family also engaged in similar practice. As such, all forgery related allegations were discarded by the Court of Appeal judge.

Dr. Mahtani & Zambia

Confirmation from the Court of Appeal final on Portland Cement case, Dr. Rajan Mahtani announced winner

Dr. Rajan Lekhraj Mahtani was finally given the majority shareholding and legal ownership status for his company Portland Cement Zambia. This decision was announced at the Court of Appeal on 31st January 2019. On this day, the judge at the Court of Appeal announced that Dr. Rajan Mahtani is the majority shareholder of the Zambezi Portland Cement factory as he holds 58 percent shares at the factory. On the other hand, it was also announced that Ventriglias hold just 42 percent shares at the factory and are the minority shareholder without any legal ownership over the factory. This decision aligned with the original shareholders agreement which was established in the year 2006. Furthermore, the judge from the Court of Appeal also said that the judgement given by the Lusaka High Court judge was misdirected and against the interests of the public policies. It should be noted here that Dr. Rajan Mahtani had initially registered the case at the Lusaka High Court almost a decade back. As a result of the various incompetency of the court, the case delayed for more than ten years. Even after that, the final judgement was against Dr. Rajan Mahtani’s claims wherein it was announced that Ventriglias were only shareholders of the Zambezi Portland Cement. This prompted Dr. Mahtani to take firm step and approach the Court of Appeal for further justice.

As of now, the decision from the Court of Appeal is final and cannot be changed at any circumstances. All forgery related allegations have also been discarded by the Court of Appeal judge. In a further statement, the Court of Appeal stated that all parties are required to proceed with regularization of the sales of the shares, taking effect from December 2006 and aligning with the Shareholders Agreement established by the Court in the month of January 2019. The Judge provided a timeline of three months for completing this share regularization process.