Portland Cement Zambia is a cement-manufacturing factory that has been going under spiral for a long time. This spiral started when the factory was unethically taken over by the Ventriglia family and the struggle for Dr. Mahtani started. Dr. Rajan Mahtani has made a name for himself for being one of the most ethical and transparent businessman in Zambia. Despite his long-standing commitment towards transparency, he continuously faces challenges as a result of the corrupt and unethical practices around the nation.
One of the biggest challenges which Dr. Mahtani has faced for a long time is getting ownership of the Portland Cement Zambia factory. The ownership of the Portland Cement Zambia factory was given to Dr. Mahtani owned Finsbury Investments after finalizing the shares restructuring via an original shareholders agreement. However, this shareholders agreement was disputed which resulted in a case at the Lusaka High Court. The decision from the Lusaka High Court came more than a decade later and it was controversial with Ventriglia family announced as only shareholders of the Portland Cement. However, Dr. Rajan Mahtani was able to successfully challenge this decision at the higher Court of Appeal. On 31st January 2019, the higher Court of Appeal judge Mwinde reversed the decision from the higher Court of Appeal and announced that the Portland Cement Zambia belongs to Dr. Rajan Mahtani.
The Ventriglia family once again tried to disrupt the business proceedings of Portland Cement by registering a claim at the Supreme Court and challenging the decision of higher Court of Appeal. However, the Supreme Court bench found the claim by the Ventriglia family to be invalid and technically ineligible. As a result, the claim was effectively rejected by SC.
Comments