The fate of Portland Cement Zambia was announced on 31st January 2019. For Dr. Rajan Lekhraj Mahtani, it was finally a positive news coming from a judiciary system in Zambia. It can be said that any other businessman in place of Dr. Rajan Mahtani would have given up on the case. This is due to the fact that despite the long stretch of ten years of case proceedings as well as sharing of evidences and testimonials before the court, Dr. Rajan Mahtani was not given justice. The judge at the Lusaka High Court, where the case was registered initially, declared Ventriglias as only shareholders of the Portland Cement Zambia factory. This was against the evidences shared and as a result, the most appropriate and understandable decision from Dr. Mahtani was to approach the higher Court of Appeal.
The higher Court of Appeal is the highest legal and judiciary system in Zambia focussing in civil cases. The judge at the higher Court of Appeal was justice Mwinde and after around nine months of case proceedings, justice Mwinde declared the final verdict based on the available evidences and testimonials. It was found that Dr. Rajan Mahtani made payment of USD 250,000 or one billion kwachas to the Portland Cement Zambia Limited which covered the value of the share capital which was taken over by Dr. Rajan Mahtani. Furthermore, the shareholders’ agreement made in the year 2007 also confirmed takeover of 58 percent shares by Dr. Mahtani after making the said payment.
Based on the above critical evidences, justice Mwinde announced Dr. Mahtani as actual owner and majority shareholder of the Portland Cement Zambia factory.
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