The incredible true story of corporate theft and government corruption in Zambia.

RAJAN MAHTANI’S ILLEGAL SEIZURE OFZAMBEZI PORTLAND CEMENT

• Illegal takeover Rajan Mahtani and Finsbury Investment illegally attempted to seize control of Zambezi Portland Cement (ZPC). They ‘forged documents’ and are reported to have ‘bribed immigration and court officials’.

• Legal defence The Zambian courts have finally stepped in to protect the rightful owners and Directors. The authorities have arrested Mahtani and issued several injunctions restraining Finsbury / Mahtani from acting as Directors and Shareholders.

Summary

Finsbury Investments, acting for Mahtani, forged a ‘shareholder transfer document’ to seize control of the cement plant .

In 2010, the Zambian Supreme Court incorrectly accepted Finsbury as the legal operators of ZPC, in a ‘controversial judgment’ they removed any rights from the legal owners

A Fraudulent Share Transfer

Shortly after the Supreme Court’s decree, the story took an unbelievable turn.

ZPC’s, Mr Antonio Ventriglia and Mr Manuela Sebastiani were declared ‘prohibited immigrants’ by Zambian Immigration.

This claim was manufactured and wholly false. Neither Mr Ventriglia or Mr Sebastiani have had any issues with Zambian authorities since their arrival, in Zambia, in the late 1950s.

On the 20th November 2012, Mr. Daniele Ventriglia, the Operations manager of ZPC, was summoned to present himself to the Immigration Department in Ndola where he was informed by the Regional Immigration Officer that his Residence Permit had been revoked because he was considered to be a “Danger to the peace of the nation”.

He was given four hours to leave the country, was escorted to Ndola Airport where he boarded the a flight to Nairobi, and then on to Rome (via Amsterdam), on a ticket that had been issued to him (and paid for) by the ‘corrupt’ Immigration officials.

A False Deportation Order

The manufactured deportation orders were issued to enable Rajan Mahtani to seize the Zambezi Portland cement plant.

With ZPC’s owners and senior staff forced from the country, Finsbury/ Mahtani used their ‘forged documents’ and the ‘controversial’ Supreme Court ruling to snatch Zambezi Portland Cement.

Under (Unlawful) New Management

Finally, justice is within reach for Zambezi Portland Cement.

On June 2, Rajan Mahtani was arrested by police on two counts of forgery. Contrary to Section 344, chapter nine of the Penal Code Cap 87 of the Laws of Zambia.

Under both counts, Rajan Mahtani is alleged to have jointly, and whilst acting with other persons unknown, forged a transfer of five hundred million shares from Zambezi Portland Cement into Finsbury Investment Limited – and falsely claiming that the required forms were signed by the Directors of Zambezi Portland Cement.

Mahtani has been released on bail. The victims of his crimes are awaiting his trial, his prison term and some small measure of justice.

Their Day In Court