Lusaka High Court Judgement On Zambezi Portland Reversed By Court Of Appeal

The criminal intentions of the Ventriglia family were finally out after a series of revelation from the Court of Appeal where the final decision on the Portland Cement Zambia was announced. Dr. Rajan Mahtani is the notable businessman in this scenario who registered the case at the Lusaka High Court almost ten years back. Despite sharing numerous evidences and testimonial, the final judgment from Lusaka High Court was disappointing. The judge at the Lusaka High Court announced that the Ventriglias were only shareholders of the Zambezi Portland Cement. After this decision, Dr. Rajan Mahtani approached the Portland Cement Zambia.

Dr. Rajan Mahtani

The judge at the Portland Cement Zambia provided their final decision on 31st January 2019. Justice Mwinde announced that Finsbury Investments which is an entity of Dr. Rajan Mahtani, holds 58 percent shares at the factory and is the majority shareholder of the Zambezi Portland Cement. On the other hand, the Ventriglias who own Ital Terrazzo Limited hold 42 percent shares at the factory and are the minority shareholder of the Zambezi Portland Cement. By making this decision, the judge from the Court of Appeal effectively reversed the judgment from the Lusaka High Court. During this time, the Court of Appeal judge also said that the judge below him was wrong in declaring Ventriglias as only shareholders of the Zambezi Portland Cement as the decision was without any evidence or proof. Furthermore, the decision from the Court of Appeal aligned with the original Shareholders Agreement which was established in the year 2007.

As of now, Dr. Rajan Mahtani has been given the rightful ownership of the Zambezi Portland Cement. Forgery allegations have been discarded and all share regularization process has been asked to be completed within three months from the judgment date. Now the next big task for Dr. Rajan Mahtani is to revive the factory to its former glory.