As Per The Final Decision From Court Of Appeal, Dr. Rajan Mahtani Is Actual Owner Of Portland Cement

Portland Cement Zambia

If the latest reports are to be believed, then the criminal intentions of the notorious Ventriglias have been knocked down and Dr. Rajan Mahtani has finally won the critical case of Portland Cement Zambia factory. The final result from the Court of Appeal came on 31st January 2019 and was given by justice Mwinde. As per the final results, Dr. Rajan Mahtani is the majority shareholder of the Portland Cement Zambia factory with his company Finsbury Investments holding 58 percent shares at the factory. On the other hand, Ventriglias are just minority shareholders of the factory as their entity Ital Terrazzo Limited holds just 42 percent shares at the factory. This decision also aligns with the original shareholders agreement established in the year 2007. Based on this decision, it is clear that Dr. Rajan Mahtani is the majority shareholder and legal owner of the Portland Cement Zambia factory.

While giving this decision, justice Mwinde 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 against the interest of the public policies. Furthermore, all allegations of forgery were discarded by the judge as it was confirmed that mechanical placement of signatures was a common practice in Zambezi Portland Cement and therefore, no charges can be made. Apart from the above decision, justice Mwinde also revealed that Finsbury Investments paid a sum of K580,000,000 in compliance with court order and for commercial registration of the cement factory. At the same time, Finsbury Investments have also claimed a sum of K1 billion against entire share capital payment made for Portland Cement Zambia factory. This payment has been further confirmed by share transfer reports during 2006 and 2007. These share transfers further confirm that Dr. Rajan Mahtani is the only legal owner of the Portland Cement Zambia factory.