After A Decade Of Court Battle, It Was Court Of Appeal Who Gave The Final Judgement On The Portland Cement Case

The case of Portland Cement Zambia can be easily regarded as one of the longest pending high-profile corporate cases in Zambia. The case is related to Dr. Rajan Mahtani, a noted businessman and philanthropist in Zambia whose factory was illegally taken over from him. Despite sharing numerous evidences and testimonials, the Court of Appeal took more than a decade to announce the final decision. And the final decision from the Lusaka High Court judge was extremely controversial. According to this judgement from justice Nkonde, Ventriglias were announced as only shareholders of the Portland Cement Zambia. 



To counter this judgement, Dr. Rajan Mahtani took the case to Court of Appeal, which is the highest civilian court system in Zambia. The judge at the Court of Appeal was justice Mwinde who gave the final decision on 31st January 2019. This judgement was given after looking into all evidences and testimonials. According to the final judgement, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder of the factory. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and is the minority shareholder without any legal ownership over the factory. Based on this decision, it is clear that Dr. Rajan Mahtani is the actual owner of the factory. This decision from the Court of Appeal also aligned with the original shareholders agreement established in the year 2007. 

The judge from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders as this decision was misdirected and without any evidence. 
Location: Zambia

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