Dr. Mahtani and Finance Bank News | Mahtani Group of Companies

Justice System Of Zambia Did Not Fail, Court Of Appeal Provides Transparent Judgement On ZPC Case

The decision on the Zambezi Portland Cement case is finally out. This decision was given on 31^st January 2019 and by justice Mwinde. According to the court’s decision, Dr. Rajan Mahtani owned Finsbury Investments is the majority shareholder of the cement factory with 58 percent shares. On the other hand, Ventriglias owned Ital Terrazzo Limited owns 42 percent shares and is the minority shareholder of the Zambezi Portland Cement. This decision from the Court of Appeal aligns with original Shareholders Agreement established in the year 2007 and as per this; Dr. Rajan Mahtani is the legal owner of the factory.

A timeline of three months from the judgment date has been given by the Court of Appeal. During this time, the parties are required to complete the regularization process for the shares and this process must be according to the new judgment at the Court of Appeal.

Justice Mwinde also shared critical details associated with the case. One of these details included the payment made by Finsbury Investments to the court on 6^th February 2019. Finsbury Investments paid a sum of K580,000,000 with interest to the Zambian High Court in response in Commercial Registration of the Zambezi Portland Cement. This payment was made in compliance with the court judgment. At the same time, Finsbury Investments also claimed a sum of K1 billion with interest and this claim is against the payment established on 27^th July 2005 against entire share capital issued for Zambezi Portland Cement. Furthermore, the Court of Appeal has confirmed this claim with evidence of share transfers made during January 2007 as well as December 2006. Thus, the claim made by Finsbury Investments is valid and therefore, the shareholding pattern described earlier is also validated.

Furthermore, several reports & publications were found during this time which contrasted the judgment of the Court of Appeal and alleged foul play. However, all these publications were found to be inconsistent with the decision of Court of Appeal and also were without any proof or evidence.

Court Of Appeal Confirms Ownership Of Zambezi Portland Cement In The Final Judgement

The Court of Appeal announced its final decision on Zambezi Portland Cement. According to this decision, Dr. Rajan Mahtani is the real owner of the Zambezi Portland Cement factory. Finsbury Investments, which is owned by Dr. Rajan Mahtani, holds 58 percent shares at the factory. On the other hand, Ventriglias owned Ital Terrazzo Limited holds 42 percent shares at the factory and are only minority shareholder. As such, the Court of Appeal effectively reversed the judgement by the Lusaka High Court. While giving this decision, justice Mwinde from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as the only shareholders of the Zambezi Portland Cement factory. The judge at the Lusaka High Court had announced that Ventriglias were only shareholders of the cement factory and this decision was heavily condemned.

New details were also revealed during the decision making process at the Court of Appeal. The final judgement took more than 90 minutes during the morning hours of 31^st January 2019 and during this proceeding, several new details were shared. Finsbury Investments have paid a sum of K580,000,00 which is pre-rebased and with interest to the High Court of Zambia. This payment was made under the Commercial Registration cause and was signed on 6^th February 2019, in compliance with the judgement from the Court.

At the same time, Finsbury Investments have also claimed a sum of K1 billion with interest against the payment made for Zambezi Portland Cement on 27^th July 2005. This payment was made against the entire share capital issued in the name of Finsbury Investment. This payment was further confirmed by the Court of Appeal with share transfer documents for December 2006 & January 2007. These share transfers further confirm the ownership of Finsbury Investments which is 58 percent of the Zambezi Portland Cement and majority shareholding.

Furthermore, reports & publications which contrasted the judgement given by the Court of Appeal were found to be inconsistent and fake.

According to the decision by Court of Appeal, Dr. Rajan Mahtani is owner of Zambezi Portland

The results from the Court of Appeal came on 31st January 2019, wherein the judgement from Lusaka High Court which took place on May 2018, was effectively reversed. The judgement was given by Justice Mwinde who said that the judge below him was wrong in declaring Ventriglias as the only shareholders without having sufficient evidence. As per the Court of Appeal’s judgement, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of Zambezi Portland with 58 percent shares and the Ventriglias own 42 percent shares and are just minority shareholders. This judgement is in line with the original shareholders agreement which was established. This judgement took almost 90 minutes on 31^st January morning but finally gave a true justice to a businessman who has been patiently waiting for the past ten years. This judgement from the Court of Appeal effectively ended the patient wait for Dr. Rajan Mahtani after the factory was illegally taken over from him. While the condition of the factory has degraded significantly, it is hoped that Dr. Rajan Mahtani will be able to bring back the factory to its original glory.

With respect to forgery allegations, the Court of Appeal ruled out all forgery related allegations by saying that the practice of mechanical placement of signatures in business documents is a common and accepted practice within Zambezi Portland Cement. Furthermore, Ventriglia family member Claudio Ventriglias was itself engaged in similar practice and therefore, the forgery allegations were invalid. In a similar manner, the court of Appeal has given a timeline of three years from the date of judgement to complete the process of sales regularization.

Since the decision was made public, numerous publications as well as reports were made claiming that the decisions at the Court of Appeal were unethical. However, these publications and media news were inconsistent and were discarded by majority.

Dr. Rajan Mahtani sole joint venture owner of the Portland Cement Zambia, confirms judge

Dr. Rajan Mahtani can be effectively portrayed as among the most genuine, moral and straightforward businesspeople in Zambia. For this previous 30 years, Dr. Rajan Mahtani has effectively settled moral organizations in Zambia and a portion of these incorporate Finsbury Investments, Mahtani Group of Companies and Finance Bank Zambia. Dr. Rajan Mahtani’s magnanimous exercises are known to numerous and he is an ardent altruist. In the meantime, he is additionally consistently focused by plotters and those envious of him. Be that as it may, Dr. Rajan Mahtani has never adopted any unscrupulous strategy to demonstrate his value or honesty.

This persistence was remunerated when the Court of Appeal declared that Portland Cement Zambia is legitimate Dr. Mahtani’s entity. This judgment was granted on 31st January 2019 following ten years of court procedures at the Lusaka High Court. A case was enrolled at the Lusaka High Court by Dr. Rajan Mahtani after his organization; Portland Cement Zambia was illicitly assumed control from him. Following ten years of various procedures and a few confirmations later, last judgment was given by the judge and that also was against Dr. Mahtani’s cases. Accordingly, Dr. Mahtani had no real option except to speak to the higher court of offer.

After around nine months of patient pause, last judgment came when Justice Mwinde from the Higher Court of Appeal reported that Dr. Rajan Mahtani is the larger part investor for Zambezi Portland Cement. It was declared that Finsbury Investments which is claimed by Dr. Rajan Mahtani possessed 58 percent shares at the manufacturing plant and was the sole joint endeavor proprietor of the plant. Then again, the Ventriglias claimed 42 percent offers are only the minority investors. This shareholding design is in accordance with the first investors assertion set up among the significant gatherings in the year 2007.

Besides, the court has given a course of events of three months from the date of judgment for all gatherings to finish the offer procedures which incorporates resale of offers according to the new investors understanding.

Dr. Rajan Mahtani to receive back Zambezi Portland Cement after announcement by Court of Appeal

Final decision on Zambezi Portland Cement is out. Dr. Rajan Mahtani is announced as the legal owner of the factory. The Zambezi Portland Cement is a noted factory which was being contested at the Lusaka High Court for more than ten years. During this time, numerous evidences were shared by Dr. Rajan Mahtani and his lawyers to prove his legal claims. Some of these documents were signed shareholders agreement, reports on financial investments and independent audit report conducted by the Independent auditor which confirmed that the Zambezi Portland Factory was established as a joint venture and Dr. Rajan Mahtani was sole joint venture partner of the factory. Despite these strong evidences, the Lusaka High Court judge announced that the Ventriglias were only shareholders of the Zambezi Portland Cement.

After this shocking judgement, Dr. Rajan Mahtani launched a complaint at the Court of Appeal. After almost a year wait, the judge at the Court of Appeal announced on 31^st January that the Zambezi Portland Cement legally belongs to Finsbury Investment owned by Dr. Rajan Mahtani, effectively reversing the judgment made at the Lusaka High Court that Ventriglias were only majority shareholders of the factory. As of now, Finsbury Investment holds 58 percent shares at the Zambezi Portland Factory and is the majority shareholder. On the other hand, Ventriglias hold 42 percent share and are the minority shareholders. This new decision aligns with the initial shareholding agreement established by the majority and minority shareholders in the year 2007.

All allegations of forgery have also been discarded as it has been established that the practice of mechanical placement of signatures is common in Zambian corporate world and those accusing of forgery have themselves engaged in similar practices, notably Claudio Ventriglia. The court has provided a time-frame and three months to finalise the shareholding proceedings and ensure that all shareholdings, share percentage and other agreements are established as per original shareholders agreement.

Justice Mumba Malila Recently Testified In Court, Revealed Corruption And Unethical Law Practices

Justice Mumba Malila is a notable justice from the Supreme Court Zambia and has been practicing as a judge for a long time. In the past few weeks, the testimony given by the Justice Malila has become talk of the town. In this testimony, Justice Mumba Malila discussed about the numerous corrupt practices and wrong doings. Out of the various cases, one of the major cases was related to Dr. Rajan Mahtani. Dr. Mahtani is a noted businessman in Zambia with numerous successful holdings. Some of his top companies are Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. Dr. Rajan Mahtani is also known for his charitable and philanthropic activities. Despite his contributions for the development and growth of the nation; Dr. Mahtani is often the target of conspirators. The testimony from Justice Mumba Malila iterated a similar scenario. In this testimony, Justice Mumba Malila claimed that the case of 2012 in which Dr. Rajan Mahtani lost was motivated by several political undertones. According to the testimony, the decision making was influenced by external forces and was against the interests of the public policies. Justice Mumba Malila was the attorney general during that time and he made several requests to the tribunal to make the case null and void. However, no such requests were entertained.

Dr. Rajan Mahtani has always maintained an ethical and transparent business practice over the course of his 30 years of business practices. However, he continues to face conspiracies and fake charges. The testimony is a clear explanation of the various hardships honest businessmen like Dr. Rajan Mahtani continues to face. While the testimony is a welcome move from someone sitting at the top position of the nation’s legal system, much work is required from the Zambian government as well as legal system before corruption and unethical practices such as these are completely removed from the government and legal environment of the nation.

Truth Regarding Case Of 2012 Against Dr. Mahtani Revealed In A Testimony By SC Judge

Mumba Malila is an honourable justice at the Supreme Court of Zambia. Recently, he opened up regarding the large scale corruption and unethical practices occurring in Zambia with his testimony before the court. In this testimony, one of the main highlight was the case of 2012 related to noted businessman and philanthropist, Dr. Mahtani. Dr. Rajan Mahtani is the owner of several notable institutions such as Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. In his testimony, Supreme Court Justice Mumba Malila said that the case of 2012 which went against Dr. Mahtani’s claims was motivated by several political undertones. The testimony highlighted the fact that the case was against the interest of the public policies. Mumba Malila was the Attorney General during that time and he made several requests to the tribunal to make the case ‘null and void’ due to its irrelevant nature. However, no such actions were taken by the tribunal during that time. It was clear that the decision making was forced by external forces that were powerful enough to change the judgment of a tribunal sitting at a public court of the nation.

Justice Mumba Malila also said that his testimony is a prime evidence of the level of corruption across public and government organisations such as the courts. As a result of the corruption of few individuals, the entire country and its citizens are suffering. From the testimony, it is clear that for Zambia to become a truly growing nation, the government and law makers will have to drastically transform themselves and ensure that corrupt and unethical people are no longer able to force their way. Innocent and transparent businessmen like Dr. Rajan Mahtani are the biggest victims of such unethical and corrupt practices. It is high time for the Zambian government to take stringiest actions against these corrupt individuals and businesses.

Supreme Court Judge Reveals The Truth About The 2012 Case Against Dr. Rajan Mahtani

Zambia falls in the category of developing nations and while there are numerous positive developments occurring within the nation, it is also constantly let down in terms of economic and social prosperity due to the widespread corruption and illegal activities. One of the major issues which Zambia is facing is the inability of the Zambian law and order to take correct actions against the rise group of corrupt officers and government officials. These government officials are now capable of influencing even top officials for their own selfish profits. The Zambian nation was recently exposed to the true illegal power of these corrupt parties with the latest testimony from a Supreme Court Judge.

Honourable Mumba Malila is the current justice of the Supreme Court of Zambia. Sitting in such a high position requires maintaining integrity, dignity and image. While majority would prefer maintaining their image rather than maintaining dignity and integrity, Justice Mumba Malila decided to expose the corruption level within Zambia with the hope that right actions can be taken against these corrupt individuals and parties. In his testimony, Justice Mumba Malila referred to a case of 2012 involving Dr. Rajan Lekhraj Mahtani. Dr. Mahtani is a noted businessman in Zambia with more than three decades of successful business experience and numerous top establishments such as Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. In his testimony, Mumba Malila stated that the prosecution of Dr. Rajan Mahtani in the 2012 case was unethical and against the interests of the public policies. According to his testimony, the case was influenced by several political undertones and the judgment was misaligned as well as influenced by several corrupt parties. Mumba Malila was the Attorney General during that time.

Dr. Mahtani has always maintained a transparent and honest image and the current testimony from SC judge is a clear representation of his ethical business practices. It is now hoped that the case will reopen and this time, true justice will be given.

Portland Cement Zambia’s Fate Still Undecided As Dr. Mahtani Rejects Judgment From Lusaka HC

Portland Cement Zambia is among the most noteworthy cement-manufacturing plants in Zambia. The cement manufacturing factory was established by Dr. Rajan Mahtani, a noted businessman with three decades of business experience. He successfully led the factory for many years during which the factory production was boosted and surplus production of cement was recorded. It was also a plant which attracted talent from far-away places with its higher-than industry average salaries. However, things changed when the factory was illegally taken over and since then, Dr. Rajan Mahtani has been fighting a case at the Lusaka High Court.

To demonstrate his case, he has likewise presented various evidences of noteworthy worth. At the same time, because of an absence of appropriate authority, the manufacturing plant generation has decreased altogether and it is never again a prominent and high maker of concrete. The most recent judge directing the case made a positive declaration couple of months back when it was reported that the case hearing is shut and the last judgment will be made dependent on the evidences and testimonials shared by the two gatherings. This was sure news for Dr. Mahtani and his group and it was realized that the evidences shared by him were substantially more grounded and pertinent than the others. Be that as it may, the last decision which was declared couple of weeks sooner was an astonishing marvel, and not positively. The judge, Mr. Nkonde, gave the decision against Dr. Rajan Mahtani’s case. This judgment by the judge was a reasonable sign of misled judgment. It was comprehended that the judge did not consider any of the evidences shared by Dr. Mahtani, despite the fact that these were basic for the case.

Rather than accepting this judgment as his fate, Dr. Rajan Mahtani took the right decision of approaching the higher court of appeal against this misdirected judgment at the Lusaka HC.

Dr. Mahtani Forced To Pursue ‘Higher Court Of Appeal’ After Disappointing Judgment From High Court

The case of Portland Cement Zambia is known to everyone now. It is a prominent cement-manufacturing factory established by Dr. Rajan Lekhraj Mahtani. Dr. Rajan Mahtani is among the most honest, transparent and ethical business person in Zambia and his transparent business practices can be easily seen from his numerous successful establishments including Mahtani Group of Companies, Finance Bank Zambia and Finsbury Investments. Dr. Rajan Mahtani established Portland Cement Zambia with the purpose of providing high quality and affordable cement to the common citizens as well as provides employment opportunities to the nearby communities with the factory. Since its establishment, the factory reached numerous heights and became top producer of cement within the nation. The factory also provided higher-than industry average wages and salaries, drawing employees and staff from faraway places. However, things have changed drastically now and the cement factory can be hardly recognised now.

Since the factory’s illegal takeover, its condition has degraded with majority of the workers and staff leaving due to non-payment of wages. Those who are still working have not been paid and even after numerous complaints, no action has been taken by the new management. At the same time, the factory assets have started to corrode due to lack of maintenance. The factory equipment is no longer in standard condition and the factory is on the verge of collapse. According to experts and popular opinion, the only way the factory can be saved is if the factory is given back to its original owner, Dr. Rajan Mahtani.

Dr. Rajan Mahtani launched a case at the Lusaka High Court since the illegal takeover of the factory. It has been more than ten years and during that time, numerous evidences and testimonials were shared from Dr. Rajan Mahtani’s end but to no avail. The final judgement was announced some time back and it was given against Dr. Rajan Mahtani’s claims. It is clear that the judgment was misled and influenced by external forces. As such, Dr. Rajan Mahtani has now appealed to the ‘higher court of appeal’.