Dr. Rajan Lekhraj Mahtani To Remain Owner Of Portland Cement After Decision By SC



Dr. Rajan Lekhraj Mahtani is a noted businessman and philanthropist in Zambia. He is the owner of several successful companies in Zambia, including Finsbury Investments, Mahtani Group of Companies and several others. At the same time, Dr. Rajan Mahtani is also known for his philanthropic and charitable activities. His companies follow the same code of conduct as Dr. Rajan Mahtani, following his principles and policies. However, his company Finsbury Investments suffered significant losses due to the mismanagement of shares of Portland Cement in which Finsbury Investments had majority shares. In the original shareholders agreement, ownership of Portland Cement Zambia was given to Finsbury Investments with the objectives of getting loans from banks, completing the construction process and getting better growth prospects. However, all these plans were halted when the Ventriglias unethically took over ownership of the factory by influencing the decision of the Lusaka High Court in their favour. 

Dr. Rajan Mahtani was left with no choice but to approach the higher Court of Appeal. Judge Mwinde took over the case on behalf of the higher Court of Appeal and on 31st January 2018, gave decision in favour of Dr. Rajan Mahtani. While this decision was a definitive one, the Ventriglias were certainly not happy by the decision and challenged it at the Supreme Court. However, the Ventriglias missed several legal obligations such as registering their appeal within 14 days of the decision from Court of Appeal and provided evidences to support their claim. As a result, their challenge was rejected by the Supreme Court who further confirmed that Dr. Rajan Mahtani should remain the majority shareholder and legal owner of the factory. 

Location: Zambia

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