Justice Finally Out By Court of Appeal, Majority Shareholding Given To Finsbury Investments

The date 31st January 2019 was notable for Dr. Rajan Mahtani as following quite a while of patient pause; he was given real ownership of Zambezi Portland. On this date, the Court of Appeal declared that Dr. Rajan Mahtani possessed Finsbury Investments was the majority shareholder and proprietor of the Zambezi Portland Cement. By giving this judgment, the Court of Appeal successfully turned around the judgment from Lusaka High Court which declared amid May 2018 that the Ventriglias were only shareholders of Zambezi Portland Cement.

According to the new judgment by the Court of Appeal, Finsbury Investments holds 58 percent shares at the plant and is the majority shareholder of the cement factory. The Ventriglias, then again, hold 42 percent shares and are the minority shareholders with no proprietorship. This judgment was given by Justice Mwinde who likewise said that the judge beneath him, Justice Nkonde from Lusaka High Court, wasn't right in announcing Ventriglias as the majority shareholders without investigating the confirmations and certainties. The new and last judgment given by the judge at the Court of Appeal likewise lines up with the first Shareholders Agreement which was built up in the year 2007. The Court of Appeal additionally disposed of all fabrication charges by affirming that the act of mechanical arrangement of marks crosswise over records is a typical practice inside Zambezi Portland and even Claudio Ventriglia, an individual from the Ventriglia business family occupied with comparative practice.

Three months of time allotment has been given for finishing the regularization procedure of the deals according to the new choice at the Court of Appeal.