Majority Shareholding Of Zambezi Portland Cement Goes To Dr. Mahtani, Confirmed By Court Of Appeal

Better late than never. Dr. Rajan Mahtani has been patiently following this philosophy for the past ten years. For the past ten years, Dr. Rajan Mahtani patiently waited for true justice for the Zambezi Portland Cement. Despite the numerous shortcomings and flaws within the legal system of Zambia, faith was not lost. This is why Dr. Rajan Mahtani re-approached the Court of Appeal after the misdirected judgement from the Lusaka High Court.


The Court of Appeal made its announcement on 31st January 2019. In this announcement, the decision was given after looking into the various evidences, testimonials and other data and information shared from both sides. Justice Mwinde was the judge giving the final decision. He announced that as per the information and the evidence, Finsbury Investment holds 58 percent shares at the factory and is the majority shareholder of the Zambezi Portland Cement. Finsbury Investments is an entity owned and run by Dr. Rajan Mahtani. On the other hand, Ital Terrazzo Limited which is a company owned by the Ventriglias hold 42 percent shares and is the minority shareholders of the Zambezi Portland Cement. According to this decision which also aligns with the original Shareholders Agreement established in the year 2007, Dr. Rajan Mahtani is the legal owner of the Zambezi Portland Cement factory. While giving this judgement, Justice Mwinde also said that the judge below him was wrong in declaring Ventriglias as only shareholders without any proof or evidence. 

The Court of Appeal has provided a timeline of three months during which all process of share regularization should be completed as per the final decision from the court of Appeal.
Location: Zambia

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