Dr. Rajan Mahtani Starts Working For The Re-Development Of The Factory Post Court Win

On 31^st January 2019, Dr. Rajan Lekhraj Mahtani finally won the long-pending Portland Cement Zambia case. This case was registered at the Lusaka High Court first and after a decade of critical case proceedings, final decision was given by justice Nkonde. However, it was a controversial decision as it was announced that Ventriglias were only shareholders of Portland Cement.

Dr.Rajan Mahtani successfully reversed this misdirected decision by approaching the higher Court of Appeal. The judge at the higher Court of Appeal was justice Mwinde who announced Dr. Rajan Mahtani paid one billion kwachas or USD 250,000 to the Portland Cement Zambia limited for taking over 58 percent shares or majority shareholding of the factory. This transaction was accepted and signed by all stakeholders associated with the factory with the evidence being the original shareholders’ agreement established in the year 2007. Based on these evidences, justice Mwinde successfully reversed the decision from the Lusaka High Court by announcing it as misdirected and confirmed Dr. Rajan Mahtani as the actual owner and majority shareholder of the Portland Cement Zambia factory.

The Court of Appeal additionally settled a huge choice after determinedly scanning for laws identified with Proper Transfer and Property charge. From the examination it was set up that gatherings having the obligation for paying PTT (Property Transfer Tax) ought to be the transferor or merchant and not transferee or buyer. At the same time, all forgery related allegations were discarded by the Court of Appeal judge as these were considered baseless and a timeline of three months was provided for completing all financial and technical changes associated with the factory.