Lusaka High Court’s Hurdle Did Not Stop Dr. Rajan Mahtani In His Quest, Finally Wins Pcz Case

Zambezi Portland Cement

The case of Portland Cement Zambia has been with several twists and turns. It was first registered at the Lusaka High Court by Dr. Mahtani with the hope of getting quick verdict considering the availability of all evidences and testimonials. Despite this, the final verdict coming from Lusaka High Court and that too after more than a decade shocked everyone. It was announced that Ventriglias were only shareholders of the Portland Cement Zambia. This decision was largely condemned by media outlets, businesses and locals considering the fact that Ventriglias did not have evidences to prove their claims over the factory. After that, Dr. Rajan Mahtani approached the higher Court of Appeal, which is among the biggest judiciary systems in Zambia

The decision from Court of Appeal judge was not only quick, but was also transparent and logical. All evidences were evaluated and several critical conclusions were reached. For instance, it was concluded that Dr. Rajan Mahtani indeed made a payment of one billion kwachas to the Zambezi Portland Cement in exchange for majority shares at the factory. This payment was made in the year 2005 by Finsbury Investments on behalf of Dr. Rajan Mahtani. This amount covered the share capital value for 58 percent Zambezi Portland Cement. Furthermore, the evidences also confirmed that this exchange of shares for the said amount was accepted by all major shareholders associated with the factory, as written in the page number 663 of the original shareholders agreement. Furthermore, justice Mwinde from the higher Court of Appeal also confirmed that the process of electronic affixing of signatures was common practice in Zambezi Portland Cement for business transactions and it was also acceptable by senior members associated with the factory. As such, all allegations of forgery were also discarded by the judge.

Based on all the above evidences and evaluation, justice Mwinde rightfully announced the majority shareholder and legal owner of the Portland Cement Zambia factory, which was Dr. Mahtani.