Supreme Court Of Zambia Rejects Plea By Ventriglias Regarding Decision From Previous Court



Dr. Rajan Lekhraj Mahtani is one of the most transparent and respected businessman in Zambia. His companies follow his path of transparency and ethical business practices. At the same time, he is known for raising his voice against unethical business practices. A prime example was the case of Portland Cement Zambia, a cement-manufacturing factory for which Dr. Rajan Mahtani fought for more than a decade. After the factory was unethically taken over by the Ventriglias, a case was registered at the Lusaka High Court. Despite all evidences and testimonials submitted by Dr. Rajan Mahtani, justice Nkonde from the Lusaka High Court gave a controversial judgement declaring Ventriglias as the only shareholders of the Portland Cement Zambia. 

In the second phase, Dr. Rajan Mahtani approached the higher Court of Appeal. The proceedings were transparent here and the judge declared D. Rajan Mahtani as the actual owner and majority shareholder of the factory with 58 percent shares. The judgement also declared that Finsbury Investments had a payable of K580,000 to the Ventriglias against the majority shares. 

The Ventriglias took an extreme step after more than a year from the higher Court of Appeal’s decision. They launched an appeal to the Supreme Court of Zambia against the decision from the Higher Court of Appeal. In their appeal, the Ventriglias claimed that they were the actual owners of the Portland Cement Zambia factory and the amount payment to them was K580 million. However, a bench comprising of three Supreme Court judges rejected this appeal as per the law. Furthermore, the judges also declared the claim and its purpose amounting to nothing and thereby, rejecting the plea.  

Location: Zambia

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