Justice Mwinde Shares Final Result On Zambezi Portland Cement At The Court Of Appeal In Zambia

The lawmakers and the legal system of any nation should be strong for making visible progress and development within the society. While majority of the nations have different segregations of legal systems and the Supreme Court usually holds the highest position, there are several other courts and legal organizations that have similar authority and rights. The Court of Appeal is a similar legal organization which not only oversees the appeals across district courts but also for numerous federal decisions and administrative agencies across the nation. Therefore, it can be said that these courts hold important position and their decisions are as important and binding as the supreme court of a nation itself.

After around nine months of case proceedings at the Court of Appeal, the final judgment was given on 31st January 2019. The judge providing the decision on behalf of Court of Appeal was Justice Mwinde, and he announced that Dr. Rajan Mahtani owned Finsbury Investment is the majority shareholders of the cement factory. He also described the judgment by the Lusaka High Court judge as misdirected and against the law. As per the latest judgment, Finsbury Investments holds 58 percent shares at the Zambezi Portland Cement factory and the Ventriglias hold 42 percent shares. This makes Dr. Rajan Mahtani as the sole owner of the factory. Surprisingly, this shareholding pattern is exactly same as the original one established in the year 2007 and signed by all important members.

As such, Dr. Rajan Mahtani is now the real and legal owner of the factory and the court has announced that he must be given full authority over the factory. The court also announced that all parties are required to reprocess the shares as per the latest and finalized shareholding patterns and complete the processes within three months from the date of judgment which is 31st January 2017.