Judge Announced Final Ruling On The Portland Cement Case, Dr. Mahtani Rejects The Verdict
The
case of Portland Cement Zambia can be described as among the most
high-profile corporate cases which the nation has ever witnessed. One
of the top businessmen in Zambia, Dr. Rajan Lekhraj Mahtani, is
associated with the case. He is also a noted social worker and a
philanthropist, with numerous charitable and social activities under
his resume. Dr. Rajan Mahtani is also the owner of some of the most
successful business ventures in Zambia. These include Finsbury
Investment, Mahtani Group of Companies and Finance Bank Zambia. All
of his companies have been extremely successful and have established
their mark within the Zambian economy. He has also established
numerous associations outside of Zambia, such as establishing a
company in United Kingdom. Furthermore, these establishments and
connections have been often utilised for bringing foreign investments
within Zambia. As of now, Dr. Rajan Mahtani is fighting the case of
Portland Cement Zambia for the past ten years.
The
case of Portland Cement Zambia was launched by Dr. Rajan Mahtani
almost 10 years back, when the factory was illegally taken over from
him. The case was launched at the Lusaka High Court and since then,
numerous court proceedings have been undertaken. During this time,
the lawyers from Dr. Mahtani have shared numerous critical evidences
such as signed shareholder’s agreement, financial exhibits and
independent audit reports. While all these evidences were strong
enough to win Dr. Mahtani the case, the final verdict announced was
disastrous. The final verdict was given against Dr. Mahtani claims.
However,
Dr. Rajan Mahtani has taken the right step by appealing to the higher
court of Zambia against the judgement made at the Lusaka High Court.
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