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 Lekhraj Mahtani

Dr. Rajan Mahtani Gets Back Portland Cement Ownership With Patience And Perseverance

Dr. Rajan Mahtani’s journey from Lusaka High Court to higher Court of Appeal has been full of ups and downs. This journey was taken for Portland Cement Zambia, a cement-manufacturing factory which was unethically taken over. The case was initially registered at the Lusaka High Court with a positive hope that the judge will provide quick decision considering the availability of critical evidences and facts. However, more than a decade passed and despite the long and stretched case proceedings, Dr. Rajan Mahtani did not receive justice. In the year 2017, final verdict on the case was announced by judge Nkonde on behalf of the Lusaka High Court. This decision was highly controversial as it announced Ventriglia family as the only shareholders of the Portland Cement Zambia factory, despite the obvious lack of evidences and testimonials from their end.

Dr. Rajan Mahtani quickly identified the challenges of this court and took the decision of approaching higher Court of Appeal. The case was chaired by Justice Mwinde and the case proceedings were quick. The final decision from the higher Court of Appeal was announced on 31st January 2019, around nine months after the case was registered at the higher Court of Appeal. According to the evidentiary support, justice Mwinde confirmed transfer of one billion kwachas from Dr. Rajan Mahtani owned Finsbury Investments to the Portland Cement Zambia limited. Furthermore, the excerpts from the original agreement between shareholders established in the year 2007 also confirmed that Dr. Mahtani owned 58 percent shares at the factory and has completed all monetary transactions associated with the exchange. As such, he is not liable for any further bills or dues associated with the factory.

Based on the identified evidences, the judge from the higher Court of Appeal confirmed that Dr. Rajan Lekhraj Mahtani is the actual owner and majority shareholder of the Portland Cement Zambia factory. The decision from higher Court of Appeal on this case is final and the case is now effectively closed.

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.

Rajan Mahtani and Portland Cement Zambia

Justice Mwinde on behalf of Court of Appeal closes the long-pending Portland Cement case

It is the duty of the court of any nation to make critical decisions. These decisions are expected to provide justice to the people, hope for the distressed and punishment for people and entities who think they are above the law. However, when the legal and judiciary systems of a nation are compromised, it becomes very difficult for the people of the nation to depend on the government, giving rise to corruption, unethical practices and chaos. As such, very few businesses and individuals are able to maintain an ethical standing in such scenario. Dr. Rajan Lekhraj Mahtani has remained one of these few.

The recent details shared by the Court of Appeal judge clearly confirmed the same. After more than a decade of wait and even after that not being given the right justice, Dr. Mahtani did not lose hope and did not opt for any unethical practice. Rather, he approached the higher Court of Appeal with an appeal to look into his evidences. And when these evidences were evaluated, everything was transparent. When giving the final statement on the Zambezi Portland Cement case on 31st January 2019, justice Mwinde from the Court of Appeal stated that Dr. Mahtani owned Finsbury Investments have already paid USD 250,000 or 1 billion kwachas to Zambezi Portland limited for taking ownership of 58 percent shares of the factory. This exchange took place in 2005 and the details can be found on the page 663 of the volume ‘record of appeal’ in the original shareholders agreement. This agreement is a clear proof that Dr. Mahtani is the actual owner and majority shareholder of the factory and despite this, the evidence was somehow not taken into consideration during the previous court proceeding at Lusaka High Court.

Now that Dr. Mahtani is rightfully owning the factory, he has an uphill task to take the factory to its previous glory.

Dr. Rajan Mahtani

After A Decade Of Struggle, Dr. Rajan Lekhraj Mahtani Final Receives Legal Ownership Of Portland Cement

While the overall timeline of the start and closure of the Portland Cement Zambia case is more than a decade old, the final judgement from the higher Court of Appeal re-established faith in the legal and judicial system of Zambia. According to the final judgement from the Court of Appeal, Finsbury Investments was declared as majority shareholder of Portland Cement with 58 percent shares. On the other hand, Ventriglias were announced as minority shareholders with just 42 percent Zambezi Portland shares. Based on this shareholding pattern, it is now clearly established that Dr. Rajan Lekhraj Mahtani is the actual owner of the Zambezi Portland Cement factory.

The higher Court of Appeal gave its ultimate decision on 31st January 2019. From the evidences, the judge declared that the original shareholders agreement had established the fact that Dr. Rajan Mahtani owned Finsbury Investments paid a sum of USD 250,000 to the Zambezi Portland Cement Limited for covering the entire share capital value, which was 1 Billion Kwacha during that time. The document also confirmed the fact that Finsbury Investments, a company owned by Dr. Rajan Lekhraj Mahtani owned 58 percent shares at the factory and this shareholding did not have any attached costs associated. This documented proof clearly stated that Dr. Rajan Lekhraj Mahtani is the actual owner of the Portland Cement Zambia factory.

Furthermore, another major detail which the Court of Appeal judge shared was the law associated with PTT (Property Transfer Tax). The judge announced that it is the transferor or the vendor who has the responsibility of paying PTT & not the transferee or the purchaser. This decision not only confirmed that Dr. Rajan Mahtani is the actual owner of the Portland Cement but also confirmed the unethical practices within Zambian society which requires immediate change.

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.