Better late than never. This phrase will find extreme significance for individuals who have patience and know the power of perseverance. Dr. Rajan Mahtani is a noted business tycoon with established businesses in Zambia. Some of his top companies are Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. He is also known for his charitable and philanthropic activities and his love for the nation. Despite making several economic and social contributions for the development of the Zambia nation, Dr. Rajan Mahtani often gets disappointment from the government and the legal system of the nation. The case of Portland Cement Zambia is a real example of how lags and shortcomings within the legal system can have drastic negative impact on even big businesses. The case of Zambezi Portland Cement is age-old and was registered at the Lusaka High Court by Dr. Rajan Mahtani. After around ten years of case proceedings which was already lagging, the final judgement from the Lusaka High Court judge was shocking to say the least. The judge, justice Nkonde, announced the Ventriglias were the only shareholders of the Zambezi Portland Cement.
Notwithstanding this unfair judgement, Dr. Rajan Mahtani then approached the Higher Court of Appeal. The Higher Court of Appeal did not disappoint and on 31st January 2019, it announced the final decision on the case. As per this decision, Dr. Rajan Mahtani owned Finsbury Investments is the majority shareholder of the Zambezi Portland Cement with 58 percent shares. On the other hand, Ventriglias who own Ital Terrazzo Limited are just minority shareholders with 42 percent shares at the factory. As per this shareholding pattern which is also aligned with the original Shareholders Agreement established in the year 2007, Dr. Rajan Mahtani is the legal owner of the factory.
Furthermore, the judge from the Court of Appeal also provided a timeline of three months from the date of judgement during which all parties are required to complete the process of share regularization.