Zambezi Portland Cement Belongs To Dr. Rajan Mahtani, Announced Court Of Appeal

After almost ten years of waiting, Zambezi Portland Cement factory received true justice. It was Court of Appeal, one of the highest civilian courts in Zambia which announced the final decision. However, Dr. Rajan Mahtani had to go through several inconveniences and misdirected judgements before arriving at this place where decision was made after actually looking into the evidences. 

The case of Zambezi Portland Cement is ages old as it was first registered at the Lusaka High Court more than ten years ago. After passing through several case proceedings, dates and even judges, the final decision was given by Justice Nkonde. Sadly, he gave a misdirected judgement by announcing that Ventriglias were the only shareholders of the Zambezi Portland Cement. It was after this misdirected judgement Dr. Rajan Mahtani approached the Court of Appeal.
 

The Court of Appeal announced its final decision on 31st January 2019. According to this decision, Dr. Rajan Mahtani owned Finsbury Investments is the majority shareholders of the Zambezi Portland Cement with 58 percent shares. On the other hand, the Ventriglias are the minority shareholders of the Zambezi Portland Cement with 42 percent shares. This shareholding pattern aligns with the original shareholders agreement which was established in the year 2007. Thus, the judge at the Court of Appeal effectively reversed the judgement from the Lusaka High Court and announced the actual and legal owner, Dr. Rajan Mahtani. 

All allegations of forgery were discarded and the judge provided a timeline of three months from the date of the judgement during which all parties are required to complete the process of share regularization according to the final judgement given by the Court of Appeal. 
Location: Zambia

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