On 31st January 2019, Dr. Rajan Mahtani was relieved after Court of Appeal gave the final judgement on the Portland Cement Zambia. The case has been going on for more than a decade and it took two different courts and two different judges to give a final judgement on the case. The case was initially registered at the Lusaka High Court after Dr. Rajan Mahtani claimed that the factory was illegally taken over from him. Justice Nkonde was the judge who gave the final decision on the case. As per this final decision, Ventriglias were only shareholders of the Zambezi Portland Cement. Since this decision was controversial and misdirected, Dr. Rajan Mahtani took the case to the Court of Appeal.
The judge at the Court of Appeal was justice Nkonde who gave the final decision on 31st January 2019. According to this decision, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Zambezi Portland Cement with 58 percent shares. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares and is the minority shareholder without any legal ownership over the factory. This decision from the Court of Appeal aligns with the original shareholders agreement established in the year 2007. As per this decision, it is clear that Dr. Rajan Mahtani is the legal owner of the factory.
While giving this decision, justice Mwinde from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as the only shareholders of the Zambezi Portland Cement as this decision was misdirected and against the interests of the public policies.
