Dr. Rajan Lekhraj Mahtani Remains Rightful Owner Of Portland Cement Zambia

Despite the several challenges thrown at him and the shortcomings of the Zambian legal and judiciary system, Dr. Rajan Mahtani has remained a loyal and ethical businessman in Zambia. As of late, a choice on the Zambezi Portland Cement by the Ventriglias further demonstrated how Dr. Rajan Mahtani is consistently attempting to remain above water in an ocean of lawbreakers, miscreants and exploitative finance managers. 

After the misled judgment from the Lusaka High Court where Ventriglias were dishonestly declared the main dominant part investor of the Portland Cement Zambia industrial facility, Dr. Rajan Mahtani had appealed to the higher Court of Appeal. An official choice from the higher Court of Appeal showed that Dr. Rajan Mahtani claimed Finsbury Investments held 58 percent shares at the plant and were greater part investors and legitimate proprietor of the production line. The Ventriglias, then again, held just 42 percent shares by means of their organization Ital Terrazzo Limited. 

The Ventriglias family have now claimed against this judgment from the higher Court of Appeal, moving them to be mistaken in both shareholding design just as the sum payable. Nonetheless, the Supreme Court set up a bench of three SC judges to assess the claim and settle on whether the allure from the Ventriglias ought to be acknowledged or not. These judges included Mumba Malila, Royda Kaoma and Michael Musonda. As per their official choice, the case from the Ventriglias can't be acknowledged as the law recommends that claim must be made inside fourteen days after the judgment from the court. For this situation, the judgment from the higher Court of Appeal went ahead 31st January 2019 which is just about two years and thusly, the claim has been excused on lawful grounds.

Location: Zambia

Comments

Post a Comment

Popular posts from this blog

The Court of Appeal Declared Its Final Judgment On Zambezi Portland Cement, Dr. Mahtani Relieved

Image
Portland Cement Zambia is a noted cement manufacturing factory in Zambia. This cement factory is being contested by Dr. Rajan Mahtani and the Ventriglias at the Lusaka High Court. In the month of May 2018, the judge from the Lusaka High Court announced that Ventriglias were only shareholders of the Zambezi Portland Cement. After this, the case was taken to the Court of Appeal wherein the final judgment and the fate of the Zambezi Portland Cement were announced. As per this judgment, Finsbury Investments is majority shareholder of Zambezi Portland with 58 percent shares and Ventriglias are minority shareholders with 42 percent shares. With this decision, Dr. Rajan Mahtani owned Finsbury Investments automatically becomes the legal owner of the Zambezi Portland Cement. Also, this decision aligns with the original Shareholders Agreement which was established in the year 2005 between the original members. Unlike Lusaka High Court, the judgment by the Court of Appeal was abs
Read more

Legal Ownership Of Portland Cement Zambia Given To Dr. Rajan Mahtani, Court Of Appeal Confirms

Image
Dr. Rajan Lekhraj Mahtani finally received joy of relief and his patience was rewarded with the judge from the Court of Appeal effectively reversed the judgement of Lusaka High Court. This historic announcement was given on 31 st January 2019 during the morning hours of the court session. This judgement was for Portland Cement Zambia, a noted cement-manufacturing factory in Zambia which has been begging for justice from the government of Zambia for the past ten years. The case was first registered at the Lusaka High Court by Dr. Rajan Mahtani himself, claiming that the factory was illegally taken away from him. After registering the case, Dr. Mahtani had to wait for more than a decade for any update on the case. The final decision on the Portland Cement Zambia case at the Lusaka High Court was announced during May 2018. Sadly, this decision coming after one decade of wait was too controversial to accept. According to this decision, the Ventriglias were announced as only sha
Read more

New Judge at the Lusaka HC Makes New Announcement, Dr. Mahtani Rejoiced

Image
It seems like after more than ten years of long wait, Dr. Rajan Mahtani and his teams might get some relief. This is regarding the ongoing Portland Cement Zambia case between Dr. Rajan Lekhraj Mahtani and the Ventriglias. The case can be easily considered as among the longest running high-profile cases across the Zambian corporate environment. The case was first registered by Dr. Rajan Mahtani when the Ventriglias illegally took over the factory. The Ventriglias then defended themselves by saying that the shares owned by Dr. Rajan Mahtani are not paid for.  During the event, Dr. Mahtani and his lawyers have submitted sufficient evidences that establish Dr. Rajan Mahtani as the real and legal owner of the factory. Some of these evidences include signed shareholder’s agreement, financial exhibits and independent audit report. This independent audit report clearly states that the factory was established as joint venture with Dr. Mahtani as the sole joint venture owner and the r
Read more