Court of Appeal Gives True Justice, Finsbury Investments Majority Shareholder Of Zambezi Portland

Dr. Rajan Mahtani is an established businessman in Zambia with successful businesses across the nation as well as across several foreign lands such as the United Kingdom. He is the owner of top Zambian companies such as Mahtani Group of Companies and Finsbury Investments. Even after being one of the most respected and transparent businessman in Zambia, he does not get respite. For the past decade, Dr. Mahtani fought for the legal takeover of the Zambezi Portland Cement factory. Despite sharing numerous evidences and factual data, the shortcomings and limitations of the Court resulted in the case being stretched for more than a decade. Furthermore, the final decision announced by the Lusaka High Court was also controversial as the judge announced that the Ventriglias were only shareholders of the Zambezi Portland Cement. As such, Dr. Rajan Mahtani took the right decision and approached the Court of Appeal.

Portland Cement Zambia

The Court of Appeal announced its final judgement on 31st January 2019. According to this judgement, Finsbury Investments owns 58 percent shares at the factory and is majority shareholder of the Zambezi Portland Cement. On the other hand, Ventriglias own 42 percent shares and are the minority shareholders of the Zambezi Portland Cement factory.

While giving this judgement, Justice Mwinde made several announcements and revealed some critical details regarding the present and future of the project. The forgery allegations made by the Ventriglia family were dismissed completely by the judge as it was announced that the process of mechanically placing signatures for business transactions was a common practice within Zambezi Portland Cement. The Judge also revealed that Claudio Ventriglia who is an important member of the Ventriglia family engaged in similar practice. As such, all forgery related allegations were found to be invalid. Furthermore, the judge from Court of Appeal also said that both parties were given a timeline of three months from the date of the judgement during which, all share regularization process should be completed.