Wed, 09 Jan 2013 11:30:27 +0000 Rajan Mahtani has failed to take control of Zambezi Portland Cement in spite of receiving support from government through the deportation of his competitors in unclear circumstances. The Lusaka High Court yesterday threw out his application for the appointment of receiver Timothy Mushibwe in an act that would have given him control of the company. Judge Flavia Chishimba described as speculative and unsubstantiated Mahtani’s claims that the business was in danger of collapsing because the owners had been deported by government. The Judge noted that Mahtani’s claim to shares in the company was in dispute and could not therefore be legitimised by an order which implied that he had such interest. The company owners, she said, had made sufficient administrative and management arrangements to enable the company continue running. Mahtani claimed that he had interest to appoint a receiver for the company because Finsbury investment his company had guaranteed […]
