After almost ten years of wait, Dr. Rajan Mahtani and his team of lawyers are expecting some positive news in the Portland Cement Zambia case. It can be easily regarded as one of the most traumatizing case for Dr. Rajan Mahtani. The case refers to Portland Cement Zambia, a noted cement manufacturing plant owned by Dr. Rajan Mahtani. The factory was illegally taken over by the Ventriglias, by using goons. When Dr. Rajan Mahtani launched a case at the Lusaka High Court, contending the legal takeover of his own factory, the Ventriglias contended by saying that the shares owned by Dr. Rajan Mahtani are not paid for. This started one of the longest running high-profile corporate cases in Zambia.
As per the case details, numerous trials have been established in the course of ten years. During these trials, Dr. Rajan Mahtani and his team have submitted various strong evidences and testimonials proving his legal ownership over the factory. A signed shareholder’s agreement was provided by the lawyers of Dr. Rajan Mahtani which prove his majority shareholding at the factory. Several legal financial exhibits were shared that provided factual description of his investments in the factory. As per these financial exhibits, Dr. Mahtani has spent more than 12 million dollars for the development and growth of the factory. Furthermore, an independent audit was conducted on the factory by an independent auditor. As per this independent audit report, the factory is established as a joint venture with Dr. Rajan Mahtani as the sole joint venture owner and the rest of the participants as minority shareholders. From these evidences, it is clear that Dr. Rajan Mahtani is the sole joint venture partner and the legal owner of the factory. On the other hand, the Ventriglias have not been able to share any strong evidence to substantiate their claims.
As per the judge, case hearing is closed and final judgment will be announced soon.