Dr. Rajan Mahtani is now a happy person. After more than a decade of patience and perseverance, Dr. Rajan Mahtani final received justice at the hands of the Court of Appeal. This is regarding the Portland Cement Zambia case, which was pending at the Lusaka High Court for more than ten years. After that, the latest judge from the Lusaka High Court announced final judgement on the Portland Cement Zambia. However, this judgement was extremely controversial as the judge announced that Ventriglias were only shareholders of the Zambezi Portland Cement. To counter this judgement, Dr. Rajan Mahtani approached Court of Appeal.
The Court of Appeal announced its final judgement on 31st January 2019. According to this judgement, Dr. Rajan Mahtani is the majority shareholder of the Zambezi Portland Cement factory as his company Finsbury Investments holds 58 percent shares. On the other hand, Ventriglias are the minority shares at the factory as his company Ital Terrazzo Limited holds only 42 percent shares at the factory. Based on this shareholding pattern, Dr. Rajan Mahtani becomes the legal owner of the Zambezi Portland Cement factory. The judge at the Court of Appeal also said that this judgement aligns with the original shareholders agreement which was established in the year 2007.
The judge at the Court of Appeal, while giving this judgement, shared some critical feedback. The Court of Appeal judge said that the judge below him was wrong in declaring Ventriglias as only shareholders as this decision was biased and without any evidentiary proof. Furthermore, a timeline of three months was given for completing the share regularization process.
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