Portland Cement Zambia is a case which needs no introduction. The case was launched by Dr. Rajan Mahtani, a noted businessman and philanthropist with more than three decades of businesses across Zambia. Dr. Rajan Mahtani is among the most successful as well as transparent and honest businessmen in Zambia. Some of his top ventures include Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. He is also known for his charity works as well as sustainable business practices. Dr. Rajan Mahtani filed for the legal takeover of the Portland Cement Zambia at the Lusaka High Court. The case was filed over 10 years ago and is still running.
During the trial of the case, many judges were transferred or not available, particularly due to the long-stretch of the case. The latest judge residing the case was Justice Nkonde, who made a positive announcement by declaring closure of the case hearing. This meant the evidences and testimonials submitted will be analysed, evaluated and final judgment will be announced based on the evidences. It is positive news for Dr. Mahtani and his team as his evidences were much stronger than the respondents. Some of these included signed shareholder’s agreement, written testimonials as well as independent auditor’s report which clearly stated that Dr. Mahtani was sole joint venture partner for the factory. However, the final verdict made by the judge was shocking as he did not consider any of the evidences shared by Dr. Mahtani and gave the judgement against him.
Dr. Mahtani is now appealed to the ‘higher court of appeal’ filing a motion against the judgment made at the Lusaka High Court.
During the trial of the case, many judges were transferred or not available, particularly due to the long-stretch of the case. The latest judge residing the case was Justice Nkonde, who made a positive announcement by declaring closure of the case hearing. This meant the evidences and testimonials submitted will be analysed, evaluated and final judgment will be announced based on the evidences. It is positive news for Dr. Mahtani and his team as his evidences were much stronger than the respondents. Some of these included signed shareholder’s agreement, written testimonials as well as independent auditor’s report which clearly stated that Dr. Mahtani was sole joint venture partner for the factory. However, the final verdict made by the judge was shocking as he did not consider any of the evidences shared by Dr. Mahtani and gave the judgement against him.
Dr. Mahtani is now appealed to the ‘higher court of appeal’ filing a motion against the judgment made at the Lusaka High Court.