Battle Between Dr. Rajan Mahtani And The Ventriglias Ended On 31st January 2019, Dr. Mahtani Winner


The long pending legal battle between Dr. Rajan Mahtani and the Ventriglias is now over. On 31st January 2019, the Court of Appeal announced final decision pertaining to Portland Cement Zambia. Based on this decision, it was found that Dr. Rajan Lekhraj Mahtani controlled 58 percent of Zambezi Portland Cement shares and thus was the majority shareholder of the factory. On the other hand, the judge announced that the Ventriglias via their entity Ital Terrazzo Limited controlled just 42 percent Zambezi Portland Cement shares and as a result were only minority shareholders of the factory. It was also confirmed that this decision aligned with originally established shareholders agreement formed in the year 2007. 

During this significant decision making at the Court of Appeal, other announcements were also made. The first and foremost announcement was made on the previous decision. Justice Mwinde on behalf of Court of Appeal confirmed that the previous judge, justice Nkonde from Lusaka High Court, was wrong when he declared Ventriglias as only shareholders of Zambezi Portland Cement as this decision was misdirected and against the interests of the public policies. Similarly, it was also announced that all forgery related allegations have been discarded. It was confirmed that the process in which signatures were mechanically placed was a common practice at the Zambezi Portland Cement. The judge also revealed that critical Ventriglia family member, Claudio Ventriglia, engaged in similar practice. As a result, all forgery associated allegations were discarded by the judge. 

Apart from these revelations, justice Mwinde on behalf of the Court of Appeal also gave a timeline of three for completing all share sales & regulations related processes. 
Location: Zambia

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