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 31st
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.
