Dr. Rajan Mahtani Wins The Zambezi Portland Cement Case At The Higher Court Of Appeal


The Zambezi Portland Cement case results was finally announced and Dr. Rajan Mahtani wins case after more than a decade. After Lusaka High Court failed to provide judgement despite Dr. Mahtani having all related documents and evidences, higher Court of Appeal was approached. The Court of Appeal judge then gave the final statement on 31st January 2019. While giving this judgement, Justice Mwinde also shared some interesting details about the case. 



Finsbury Investments is the appellant here and has paid USD 250,000 to the ZPC limited. This payment was completed in the year 2005 for taking of entire share capital valued at that price. The price paid was equivalent to 1 million kwachas and covered the entire share capital value. The details were established on the shareholders agreement originally established in 2007. Furthermore, the details were found in the page 663 of ‘record of appeal’ volume of the agreement. The agreement also confirmed that Dr. Rajan Mahtani was not liable to any other costs attached to the case. The transferors or vendors, on the other hand, were liable to the PTT (Property Transfer Tax) as per the law. At the same time, all allegations related to forgery were discarded by the judge at Court of Appeal. It was found that electronically placing signatures for business transactions was common practice at ZPC. As such, forgery and fraud related allegations were duly discarded.

As of now, the final decision from the Court of Appeal remains firm and standing stating Dr. Mahtani as the legal owner and majority shareholder of the Zambezi Portland Cement factory.
Location: Zambia

Comments

Post a Comment

Popular posts from this blog

Dr. Rajan Mahtani Has Claimed Foul-Play After Portland Cement Zambia’s Judgment Given

Image
Portland Cement Zambia factory is among the most notable cement-manufacturing factories in Zambia. This is partly due to the factory’s history as among the biggest producers of cement in Zambia. And the other reason is the long-trail of the cement factory at the Lusaka High Court without any final judgment. The case was registered by Dr. Rajan Mahtani after the factory was illegal taken from him. Since then, Dr. Rajan Mahtani has shared numerous evidences, testimonials as well as financial statements which sufficiently prove his legal owner over the factory Sadly, no amount of evidences or facts can support a judgment which is already clouded by personal greed or influence of others. The same situation was seen at the Lusaka High Court during the day final judgment was announced. As per the final judgement, Dr. Rajan Mahtani lost the case and his claims were rejected. It was a shocking event for everyone there as well as those who heard the news later. Within a matter of t
Read more

Finsbury Investments Emerges Winner And Majority Shareholder Of The Zambezi Portland Factory

Image
A critical decision was made by the Court of Appeal on 31 st January 2019. It was related to Zambezi Portland Cement factory, a cement manufacturing factory in Zambia. The factory was contested by two business parties for the past ten years during which, the case was transferred from one court to another and from one judge to another. Dr. Rajan Mahtani has claimed that the factory was illegally taken over from him and he is the legal owner of the factory. To prove his claim, he has been sharing numerous evidences and testimonials before several judges at the Lusaka High Court but to no avail. The final decision from the Lusaka High Court came almost a decade later and it was disappointing. According to the judge Nkonde from Lusaka High Court, Ventriglias were the only shareholders of Zambezi Portland Cement. Notwithstanding this misdirected judgement, Dr. Rajan Mahtani then approached the Court of Appeal. The Court of Appeal announced its final judgement on 31 st Jan
Read more

Dr. Rajan Mahtani Claims High Court Judgment On Portland Cement Unjustified

Image
Portland Cement Zambia case is known to for all. It is a concrete assembling manufacturing plant which had its greatness days amid the authority of Dr. Rajan Lekhraj Mahtani, a prominent businessman. Dr. Mahtani has been working in Zambia for over three decades and amid this time; he has possessed the capacity to effectively build up various best class foundations. A portion of these foundations included Mahtani Group of Companies and Finsbury Investments. He is likewise the genuine proprietor of Portland Cement Zambia which was unlawfully taken from him just about ten years prior. From that point forward, Dr. Rajan Mahtani has been battling a case at the Lusaka High Court for recovery of the processing plant. Amid the case procedures which crossed for a time span of over ten years, Dr. Rajan Mahtani displayed various confirmations and tributes to help his cases. A few vital individuals related to the manufacturing plant foundation approached and affirmed in regards to the leg
Read more