Legal Ownership Of Zambezi Portland Cement Given To Dr. Mahtani After Court Of Appeal Decision

After a wait of almost ten years, Dr. Rajan Mahtani finally received justice for his long wait, perseverance and patience. This case is about Zambezi Portland Cement, a noted cement manufacturing factory which was contested by two big business parties in Zambia. One of them is Dr. Rajan Lekhraj Mahtani, who despite sharing numerous evidences and testimonials, was not given justice at the Lusaka High Court where the case was initially approached. The judge at the Lusaka High Court was Justice Nkonde who said that the Ventriglias were only shareholders of the Zambezi Portland Cement. Notwithstanding this unfair judgment, Dr. Rajan Mahtani then took the right step and approached Court of Appeal.

The Court of Appeal announced its final judgment on 31^st January 2019, and the judgment was given by Justice Mwinde. According to this judgment, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder of the Zambezi Portland Cement factory. On the other hand, Ventriglias hold 42 percent shares and are only minority shareholders with no legal holdings over the factory. With this decision, the Portland Cement Zambia factory belongs with Dr. Rajan Mahtani. While giving this decision, the judge at the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders without having any proof or evidence. Furthermore, the decision from the Court of Appeal also aligned with the original shareholders agreement established in the year 2007.

As of now, the judge from the Court of Appeal has given a timeline of three months from the date of judgment during which the process of share regularization should be complete.