The latest announcement made by the Lusaka High Court has given some hope to Dr. Rajan Lekhraj Mahtani and his team, and he is finally expecting a sweeping win over the Ventriglias in the Portland Cement Zambia case. The case is among the most famous as well as longest running high-profile corporate cases in Zambia. The Portland Cement Zambia factory, which legally belongs to Dr. Rajan Mahtani, was illegally taken over by the Ventriglias. When Dr. Mahtani approached Lusaka High Court demanding justice, the Ventriglias defended themselves by claiming that the shares of the cement factory owned by Dr. Mahtani were not paid for.
It has been 10 years now and no judgement has been given by the court, despite the fact that Dr. Rajan Mahtani and his teams have been regularly submitting evidences and documents to prove his rightful claim over the factory. Some of these documents include signed shareholder’s agreement, financial exhibits, shares report and independent audit report which clearly states that the factory was developed as Joint Venture in which Dr. Mahtani was the sole joint venture partner and the rest were only minor shareholders. This effectively makes Dr. Rajan Mahtani as the owner of the factory. Meanwhile, the Ventriglias were not able to submit any relevant documents or make their arguments stay. They have also tried to discredit Dr. Mahtani many times but have failed.
The judge who is currently residing the case made a huge announcement recently. As per the judge, the final hearing is closed now. Both parties have been called to submit their evidences and after validating these evidences, final judgment will be announced soon.
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