Unconvinced SC bench rejects claim against Portland Cement ownership

Dr. Rajan Mahtani can be easily considered as one of the most successful businessman in Zambia. His companies such as Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia have all achieved success. At the same time, Dr. Rajan Lekhraj Mahtani continues facing challenges and issues as a result of the ineffective legal and judiciary system in Zambia and rampant corruption. Dr. Rajan Mahtani owned Finsbury Investments received majority shareholding and legal ownership of the Portland Cement Zambia via an original shareholding agreement. However, in a controversial and dubious attempt, the Ventriglia family rejected the new changes within the shareholding pattern of Portland Cement Zambia and declared the factory to be theirs. On top of that, the Ventriglia family took over the factory in an illegal manner. Dr. Rajan Mahtani attempted to take over the factory ownership in a legal manner by appealing to the Lusaka High Court. However, it was a disheartening situation for him as even after a decade of case proceedings and sharing all evidences and testimonials, justice Nkonde from the Lusaka High Court gave the decision in favour of the Ventriglia family. This decision was significantly criticized considering the fact that the Ventriglia family did not have any evidence or other details to prove their rightful ownership over the factory.

Nevertheless, Dr. Rajan Mahtani achieved success after appealing to the higher Court of Appeal regarding the misdirected decision at the Lusaka High Court. Justice Mwinde reversed the decision from the Lusaka High Court and gave the ownership of Portland Cement Zambia back to Dr. Mahtani. However, the Ventriglia family once again tried to meddle with the smooth operations of Portland Cement by approaching the Supreme Court with a claim against the higher Court of Appeal’s decision. While this decision was bold, it was hasty and unplanned as the family failed to comply with critical legal requirement which resulted in the rejection of the appeal by the Ventriglia.