Dr. Rajan Mahtani is a known personality in Zambia. He has been living in the nation for more than three decades and has successfully built his empire from scratch. Some of his companies such as Mahtani Group of Companies and Finsbury Investments have not only carved a niche for themselves in their respective sectors but have also received various awards and achievements for their work. Even Dr. Rajan Mahtani is known for his philanthropic activities and charitable work. For the past ten years, Dr. Mahtani has been fighting a case over the legal rights of Zambezi Portland Cement.
The case started when the cement factory was illegally taken over by the Ventriglias. Since then, the Ventriglias have illegally captured the cement factory. Once the case was registered by Dr. Mahtani, the Ventriglias counterclaimed that the shares of Dr. Mahtani in the Zambezi Portland were not paid for. However, during the course of the case proceedings and on several occasions, Dr. Mahtani has shared evidence that completely satisfies the fact that he holds 58 percent shares in the factory for which he has paid up the entire share capital. The signed shareholder agreement proved that Dr. Mahtani held the shares. Furthermore, Dr. Mahtani had earlier invited an unbiased and independent audit to conduct an audit of the factory. After conducting the successful audit, the independent auditor prepared a report as per which, the factory was under joint-venture partnership and Dr. Mahtani was the sole joint venture partner and not a shareholder. Also, various financial exhibits clearly proved that Dr. Mahtani’s company, Finsbury Investments have invested more than USD 8 million in the factory’s growth and development. This is much more compared to the USD 5 million dollars invested by the Ventriglias who have not even paid for the shares capital.
The final judgment will be announced after looking into the evidence submitted by both sides and as of now, Dr. Mahtani’s side is looking much stronger.