Dr. Rajan Mahtani Is The Big Winner Of The Zambezi Portland Cement Case, Court of Appeal Announces Decision

Natives of Zambia were presented to a definitive truth with respect to the long anticipating Zambezi Portland Concrete case. The case has been running from courts to courts and being exchanged from judges to judges. Be that as it may, even following a time of these court procedures, the Zambian law and administration was not ready to give honest justice to the genuine proprietor of the concrete manufacturing plant.

Dr. Rajan Mahtani is a prominent businessman with over three decades of business involvement in Zambia. A portion of the top organizations under his initiative are Finsbury Investments, Mahtani Group of Organizations and Finance Bank Zambia. He has been challenging for the legitimate responsibility for Portland Cement. The judge at the Lusaka High Court was justice Nkonde and he gave the last decision on the fate of the Zambezi Portland Cement factory which was dismissed by nearly everybody. Justice Nkonde said that the Ventriglias were only shareholders of the Zambezi Portland Cement. After this choice, Dr. Rajan Mahtani took the case to the Court of Appeal.

On 31^st January 2019, the Court of Appeal reported its last judgment on Portland Cement Zambia. The case was supported by Justice Mwinde who said that Finsbury Investments holds 58 percent shares at the Zambezi Portland Cement processing plant and is majority shareholder. Ventriglias owned Ital Terrazzo Limited holds 42 percent shares at the processing plant and is the minority investor. According to this decision, Dr. Rajan Mahtani is the legitimate proprietor of the cement production factory and this judgment from the Court of Appeal is to be held at the final fate of the Zambezi Portland Cement factory.

Fight Between Finsbury Investments & Ital Terrazzo Limited Over, Former Wins Case At Court of Appeal

The Court of Appeal made a critical declaration on 31st January 2019 when the lawful responsibility for Portland Cement was given to Dr. Rajan Mahtani. The Court of Appeal adequately switched the judgment from Lusaka High Court which said that Ventriglias were only shareholders of the Zambezi Portland Cement. In any case, this judgment was censured and the Court of Appeal judge switched the judgment successfully. As per the new judgment which is likewise the last fate of Zambezi Portland Cement, Dr. Rajan Mahtani claimed Finsbury Investments is the majority shareholder of the cement factory with 58 percent shares. The Ventriglias hold 42 percent shares at the cement factory and have no responsibility for plant.

Amid the judgment at the Court of Appeal, a few new insights about the case were additionally uncovered. For example, it was uncovered that Finsbury Investments paid a measure of K 580,000,000 with interest to the Court on sixth February 2019. This sum was in consistence with the judgment at the Court of Appeal. Likewise, subtleties were uncovered with respect to the cases made by Finsbury Investments. Finsbury Investments Limited asserted a total of K1 billion and interest on the Zambezi Portland Cement. This case was made against the instalment built up on 27th July 2005 for issuance of the whole offer capital at Zambezi Portland Cement. It was additionally affirmed by the Court of Appeal that share exchanges were made amid January 2007 and December 2006 because of which, the offers at Finsbury Investments are 58 percent and the offers at Ventriglias claimed Ital Terrazzo Limited is 42 percent offers. Therefore, Dr. Rajan Mahtani possessed Finsbury Investments is the majority shareholder and legitimate proprietor of the manufacturing plant.