It is clear that this judgement is misdirected and as a result, Dr. Rajan Mahtani took the case and repealed to Court of Appeal. The Court of Appeal is among the highest level judiciary systems in Zambia. The judge at the Court of Appeal was justice Mwinde who gave the final judgement on 31st January 2019. According to this judgement, Dr. Rajan Mahtani is majority shareholder of Zambezi Portland Cement with 58 percent shares. On the other hand, Ventriglias are only minority shareholders with 42 percent shares. Based on this shareholding pattern, it is clear that Dr. Rajan Mahtani is the legal and actual owner of the Portland Cement Zambia factory.
On 31st January 2019, when the final decision on the Portland Cement Zambia case was announced, people were not that surprised. It is due to the plain fact that everyone expect a few corrupted individuals and groups knew the actual owner of the factory and expected the judge and the court to produce similar results. However, Dr. Rajan Mahtani had to wait for more than a decade for the right judgement to come. The case of Portland Cement Zambia is age old and was registered at the Lusaka High Court. The case stretched for more than a decade at the court. The final judgement from the Lusaka High Court was given by justice Nkonde. While Dr. Rajan Mahtani shared all evidences and testimonials which were more than enough to prove his legal ownership over the factory, the final results stated otherwise. According to the final decision from Justice Nkonde, Ventriglias were announced as only shareholders of the Zambezi Portland Cement.
It is clear that this judgement is misdirected and as a result, Dr. Rajan Mahtani took the case and repealed to Court of Appeal. The Court of Appeal is among the highest level judiciary systems in Zambia. The judge at the Court of Appeal was justice Mwinde who gave the final judgement on 31st January 2019. According to this judgement, Dr. Rajan Mahtani is majority shareholder of Zambezi Portland Cement with 58 percent shares. On the other hand, Ventriglias are only minority shareholders with 42 percent shares. Based on this shareholding pattern, it is clear that Dr. Rajan Mahtani is the legal and actual owner of the Portland Cement Zambia factory.
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Dr. Rajan Mahtani is one of the few businessmen in Zambia who are known for their transparent and ethical business practices. In his three decades of business experience, Dr. Rajan Mahtani has successfully established numerous business ventures in Zambia. Some of these ventures are Finance Bank Zambia, Mahtani Group of Companies and Finsbury Investments. He is also the owner of Portland Cement Zambia for which he has been fighting case at the Lusaka High Court for more than a decade. Despite sharing numerous evidences, testimonials and facts, Dr. Rajan Mahtani was denied of justice by the Lusaka High Court when judge Nkonde from the same court announced that Ventriglias were only shareholders of the Zambezi Portland cement. To counter this judgement, Dr. Rajan Mahtani took the case to Court of Appeal. The judge at the Court of Appeal was justice Mwinde who gave the final judgement on Portland Cement Zambia. This judgement was given on 31st January 2019 after looking into all evidences and testimonials. The judge at the Court of Appeal confirmed that Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the Portland Cement Zambia factory and is the majority shareholders. On the other, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory are is the minority shareholder without any legal ownership over the factory. Based on the court decision, it is clear that Dr. Rajan Mahtani is the legal owner of the factory. This decision from Court of Appeal also aligned with the original shareholders agreement established in 2007 and proves legal ownership of Dr. Rajan Mahtani. One of the biggest courts in Zambia, Court of Appeal, recently announced its final judgement on one of the longest pending high-profile corporate cases in Zambia. This case is of Portland Cement Zambia, for which Dr. Rajan Mahtani has been fighting for legal takeover for more than a decade. The case was registered at the Lusaka High Court where it went from judges to judges and despite the long pendency, the final judgement was controversial. The judge from the Lusaka High Court announced that Ventriglias were only shareholders of the Zambezi Portland Cement. Since this judgement was controversial, Dr. Rajan Mahtani approached the Court of Appeal. The Court of Appeal announced its final judgement on 31st January 2019. The judgement was given by Justice Mwinde, a noted judge from the court. As per this judgement, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder of the Zambezi Portland Cement. On the other hand, Ventriglias owned Ital Terrazzo Limited holds 42 percent shares at the factory and is the minority shareholder of the Zambezi Portland Cement. Based on this shareholding pattern, it is clear that Dr. Rajan Mahtani is the legal owner of the Zambezi Portland Cement factory. The judge from the Court of Appeal also said that the judgement by the Lusaka High Court judge was misdirected as it was given without any evidence. Furthermore, a timeline of three months from the date of the judgement has been provided by the Court of Appeal during which all share related sales processes must be completed. The case of Portland Cement Zambia was initially registered at the Lusaka High Court, almost ten years back. The case was registered by Dr. Rajan Lekhraj Mahtani, a noted businessman in Zambia. The case took more than ten years at the Lusaka High Court and in the month of May 2018, the final decision was announced by Justice Nkonde. According to the judge from the Lusaka High Court, the Ventriglias were the only shareholders of the Zambezi Portland Cement. However, this judgement turned out to be completely baseless and without any evidence or proof. As such, Dr. Rajan Mahtani was forced to approach the Court of Appeal for justice. The Court of Appeal announced its final judgement on 31st January 2019. According to this judgement, Finsbury Investments which is a company owned by Dr. Rajan Mahtani holds 58 percent shares at the factory and is the majority shareholder. On the other hand, Ventriglias owned Ital Terrazzo Limited holds only 42 percent shares at the factory and is the minority shareholder with no ownership over the factory. This decision from the Court of Appeal clearly establishes Dr. Rajan Mahtani as the legal owner of the Zambezi Portland Cement. Furthermore, this judgement from the Court of Appeal aligned with the original Shareholders Agreement which was established in the year 2007. While giving the judgement, the judge from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as the only shareholders without any proof or evidence. The final decision from the Court of Appeal regarding Zambezi Portland Cement is out and the results are astonishing. This decision arrived during the morning hours of 31st January 2019. The judge giving the decision was justice Mwinde and he said that the judge at the Lusaka High Court was wrong in declaring Ventriglias as the only shareholder of Zambezi Portland Cement without any evidence or proof. With that, the judge announced that Dr. Rajan Mahtani held 58 percent shares at the Zambezi Portland Cement factory and was the majority shareholder of the factory. On the other hand, the Ventriglias held just 42 percent shares at the factory and were the minority shareholder of the cement manufacturing factory. With this decision, Dr. Rajan Mahtani becomes the legal owner of the factory and the decision was confirmed with details of original shareholders agreement established during 2007. Thus, the decision from the Lusaka High Court judge was effectively reversed. Furthermore, new details emerged from the case proceedings. It was found that Finsbury Investments paid a sum of K580, 000,000 to the court during the month of February 2019. This payment was made with respect to the case proceedings and in compliance with court orders. The purpose of the payment was commercial registration of the Portland Cement Zambia. At the same time, Finsbury Investments also claimed a sum of K1 billion against payment made for the entire share capital of Zambezi Portland Cement. This payment was made for gaining majority shareholding of the cement factory and the payments were confirmed with evidences between January 2007 and December 2006. This payment for share transfers was also confirmed by the Court of Appeal and the final decision on the claim made by Finsbury Investments is likely to come soon and is expected to be in favour of Dr. Rajan Mahtani. Zambia is a developing nation and has been facing several ups and down in the past few decades. While there are a few indications of advancement, absence of built up administration and legitimate framework is making a negative symbolism for the organization. All things considered, there is a requirement for straightforward and moral framework with the goal that the general economy and organizations can improve and develop. A positive indication of this improvement went ahead 31st January when the Court of Appeal reported its judgment on the Zambezi Portland Cement. Court of Appeal is among the most noteworthy courts inside the Zambian country. The judgment at the Court of Appeal was given by Justice Mwinde who said that Dr. Rajan Mahtani claimed Finsbury Investments was the dominant part investor with 58 percent shares. Ventriglias were simply minority investors with 42 percent shares. This viably turned around the judgment given at the Lusaka High Court which declared that Ventriglias were only shareholders of the Zambezi Portland Cement. While giving this judgment, Justice Mwinde at the Court of Appeal likewise said that the judge beneath him wasn't right in proclaiming Ventriglias as the main investors with no verification or proof. The choice from the Court of Appeal is basically a desire for various businessmen like Dr. Rajan Mahtani who regardless of various roadblocks, adhere to a way of straightforwardness and morals. Dr. Rajan Mahtani had been battling for the legitimate takeover of the cement factory for over ten years and notwithstanding a few deceptive and illicit endeavours from different gatherings, Dr. Mahtani never occupied with comparable practices. This way of genuineness and moral business practice was compensated with an ultimate choice at the Court of Appeal reported Dr. Mahtani as the legal owner. The battle for legal ownership of Zambezi Portland Cement has been going on for a long time. Up until now, the case went on for more than 10 years at the Lusaka High Court where it was originally placed. The judge giving the final decision was Justice Nkonde and after many evidences and testimonials, a final judgement was given. However, this judgement was extremely controversial as the judge said that the Ventriglias were only shareholders of the Zambezi Portland Cement. After this controversial judgement the case was further taken to the Court of Appeal. The Court of Appeal announced its final judgement on 31st January 2019. This judgement was given by noted justice Mwinde, who also said that the judge below him was wrong in declaring Ventriglias as the only shareholder of the Zambezi Portland Cement. As per the final decision from the Court of Appeal, Finsbury Investments holds 58 percent shares and is the majority shareholder of the cement manufacturing factory. Finsbury Investments is a noted company owned by Dr. Rajan Lekhraj Mahtani. The Ventriglias, on the other hand, hold 42 percent shares and are the minority shareholders of the Zambezi Portland Cement. Based on this court decision which also aligns with the original shareholders agreement; Dr. Rajan Mahtani owned Finsbury Investments is the legal owner of the factory. Furthermore, the judge also discarded all appeals of forgery by confirming that the process of mechanically placing signatures was common across Zambezi Portland Cement and even member of the Ventriglias family engaged in similar practice. As such, the allegations were disapproved and the final authority of the Zambezi Portland Cement was given to Dr. Rajan Mahtani. According To Final Decision From Court of Appeal, Dr. Mahtani Legal Owner Of Zambezi Portland4/1/2019 Dr. Rajan Mahtani is one of the most prominent and noted businessman in Zambia. He is known for numerous successful businesses in Zambia, including Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. He is also the legal owner of Zambezi Portland Cement for which he has been fighting a legal war for the past ten years. In the month of May 2018, justice Nkonde from the Lusaka High Court announced the final decision on the case. According to this decision, Ventriglias were only shareholders of the Zambezi Portland Cement. However, this decision was biased and misdirected. As such, the case was further approached to Court of Appeal. The Court of Appeal, being one of the highest legal systems within Zambia did not disappoint and provided the final judgement 31st January 2019. As per this final judgement, Dr. Rajan Mahtani owned Finsbury Investments was found to be majority shareholder with 58 percent shares at the factory. On the other hand, Ventriglias owned Finsbury Investments held 42 percent shares and was minority shareholder of the Zambezi Portland Cement. As per this decision, Finsbury Investments was majority shareholder and thereby, legal owner of the Zambezi Portland Cement. This decision also aligned with original shareholders agreement which was established in year 2007. Furthermore, the judge discarded all allegations of forgery and explained that the process of mechanically placing signatures for business transactions was common in Zambezi Portland Cement. The judge at the Court of Appeal also condemned the decision by the Lusaka High Court judge by saying that the judge was wrong in declaring Ventriglias as the only shareholders without any evidence or proof. Dr. Rajan Mahtani Owned Finsbury Investments Is Majority Shareholder Of Zambezi Portland Cement2/20/2019 The Court of Appeal recently announced its judgement on 31st January 2019 on Zambezi Portland Cement. As per this judgement, Finsbury Investments is the majority shareholder of Zambezi Portland with 58 percent shares and the Ventriglias are minority shareholders with 42 percent shares. The decision gave power of attorney and legal ownership back to Dr. Rajan Mahtani and Finsbury Investments. This decision effectively reverses the judgement at the Lusaka High Court which said that Ventriglias were only shareholders of Zambezi Portland. This decision by the Lusaka High Court judge was also condemned by the Court of Appeal judge. Several important details were made public during the case proceeding. For instance, Dr. Rajan Mahtani on behalf of Finsbury Investments made a payment of K 580, 000, 000 to the court on 6th February 2019. This payment was made at the Court as Commercial Registration fees along with interest in full compliance with the judgement. In a similar manner, Finsbury Investments also claimed a sum of K1 billion with interest on the Portland Cement Zambia against the payment given on 27th July 2005. This claim is made against the entire share capital which was issued to Finsbury Investments. The judge at the Court of Appeal also confirmed and validated the share transfers made during January 2007 and December 2006 which proves majority shareholding and legal ownership of Zambezi Portland by Finsbury Investments. Soon after the judgement made at the Court of Appeal, there were numerous publications and reports which were made against this judgement by alleged CEO of the Zambezi Portland. However, all these publications and reports are inconsistent without any evidence or proper documentation. Dr. Rajan Mahtani Not Considering The Judgment From Lusaka HC As Final, Launched Another Appeal2/4/2019 Dr. Rajan Lekhraj Mahtani is a prominent entrepreneur and businessman in Zambia. Through the span of three decades, Dr. Rajan Mahtani has accomplished various accomplishments as fruitful organizations. A portion of his best organizations are Mahtani Group of Companies and Finsbury Investments. For as far back as ten years, Dr. Rajan Mahtani has been battling for the legitimate responsibility for Cement Zambia, a manufacturing plant which was unlawfully detracted from him. After this unlawful takeover, Dr. Rajan Mahtani propelled an argument against at the Lusaka High Court. Be that as it may, the constraints of the Zambian law and government have brought about consistent disappointment for Dr. Rajan Mahtani. Over the span of case procedures crossing very nearly 10 years, Dr. Rajan Mahtani shared various records and confirmations which bolster his genuine and lawful responsibility for industrial facility. Some of these confirmations included consented to investor's arrangement, tributes and reports affirming speculations over the manufacturing plant. Another vital archive was free review report which affirmed that the industrial facility was built up as joint endeavour and Dr. Rajan Mahtani was the sole joint endeavour proprietor. The judge sitting above the case made some positive declarations couple of months back when it was uncovered by the judge that the case hearing is shut. It was a positive and critical declaration for Dr. Rajan Mahtani as conclusion of case hearing implies that no more procedures and strenuous court exercises. In any case, things took a sensational turn when the judge declared the last judgment against Dr. Rajan Mahtani's cases. It was a stunning occasion as every one of the confirmations and tributes recommended something else. Plainly the basic leadership was impacted by outside powers. |
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