Wednesday 24 March 2021

Despite Attempt By The Ventriglia Family, Portland Cement Zambia To Remain Under Dr. Mahtani’s Ownership


According to the most recent decision from the Supreme Court on the claim from the Ventriglia, it is currently an affirmed news that Dr. Rajan Lekhraj Mahtani is the majority shareholder and legitimate proprietor of the Zambezi Portland Cement factory. This affirmation was perpetual after the Ventriglia family abruptly chose to challenge against the decision of Court of Appeal on the Portland Cement Zambia case. Dr. Rajan Mahtani is a prominent businessman in Zambia who has been working eagerly towards setting up a bona fide and straightforward business realm. In the year 2006-07, Finsbury Investments got dominant part shareholding and responsibility for Cement Zambia with the target of completing the factory construction and furthering its growth plans. Nonetheless, every one of these development plans were ended when the Ventriglia family chose to challenge the shareholding arrangement as indicated by which Finsbury Investments was proprietor of Portland Cement. This began a huge court fight at the Lusaka High Court going on for over 10 years. The last decision was disputable as justice Nkonde of Lusaka High Court declared Ventriglias as the solitary investors of the Portland Cement Zambia. 

Dr. Rajan Lekhraj Mahtani had the option to effectively challenge this choice at the higher Court of Appeal. On 31st January 2019, justice Mwinde gave ultimate verdict that the decision from the Lusaka High Court was misled and should be turned around. Moreover, justice Mwinde affirmed that Dr. Rajan Mahtani possessed Finsbury Investments ought to stay the larger part investor and legitimate proprietor of the manufacturing plant. After over a time of this decision, the Ventriglia family challenged it by asserting it to be bogus. It was challenged at the Supreme Court Zambia. After point by point assessment, the Supreme Court seat reasoned that the case from the Ventriglia family was invalid and hence, was successfully dismissed.

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