Court Of Appeal Judge Announces Finsbury Investments As Majority Shareholder Of ZPC

On 31st January 2019, the decision regarding Portland Cement Zambia was announced. The decision was given by Justice Mwinde from the Court of Appeal, during the morning hours of the court session. By giving this decision, the judge from the Court of Appeal effectively reversed the judgement from the Lusaka High Court. The case of Portland Cement Zambia was initially registered at the Lusaka High Court by Dr. Rajan Mahtani, a noted businessman and philanthropist in Zambia. After the judge from the Lusaka High Court failed to give proper judgement for the case, Dr. Mahtani approached the Court of Appeal. 

According to the judgement from the Court of Appeal, Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder of the factory. On the other hand, Ital Terrazzo Limited holds just 42 percent shares at the factory and is the minority shareholder of the Zambezi Portland Cement. It should be noted here that Dr. Rajan Mahtani owns the Finsbury Investments and Ital Terrazzo Limited is an entity owned by the Ventriglias. Based on this shareholding pattern, Dr. Rajan Mahtani becomes the legal owner of the Zambezi Portland Cement factory. This decision from the Court of Appeal aligns with the original Shareholders Agreement which was established in the year 2007. 

The judge from the Court of Appeal condemned the decision from the Lusaka High Court judge as the judgement was inappropriate and misdirected. Furthermore, all forgery related allegations were discarded by the judge and a timeline of three months from the date of the judgement was given during which, all share transfer and share sales related activities must be completed.

Dr. Mahtani Is The Legal Owner Of Zambezi Portland, Court Of Appeal Judge Confirms

On 31st January 2019, a notable judgement was made as for a prominent corporate case which has been pending for over 10 years. This case is of Portland Cement Zambia, which was initially enlisted at the Lusaka High Court by Dr. Rajan Mahtani. Following enrolling the case, Dr. Rajan Mahtani shared various records, confirmations and tributes to demonstrate his legitimate responsibility for industrial facility. Regardless of sharing these confirmations, the last judgment shared by the Lusaka High Court judge was amazingly baffling. The judge from the Lusaka High Court was justice Nkonde and he reported that the Ventriglias were just investors of the Zambezi Portland Cement. To counter this disputable judgement, Dr. Rajan Mahtani then approached Court of Appeal. 

The Court of Appeal at that point reported its choice on 31st January 2019. As indicated by this choice, Finsbury Investments holds 58 percent shares at the processing plant and is the larger part investor. Then again, Ital terrazzo Limited holds 42 percent shares and is the minority investor of the Zambezi Portland Cement. It ought to be noted here that while Finsbury Investments is a prominent organization under Dr. Rajan Mahtani's administration, Ital Terrazzo Limited is an element possessed by the Italian family Ventriglias who are notorious for their exploitative strategic approaches in Zambia. 

The disputable judgement from the Lusaka High Court was even censured by Justice Mwinde from Court of Appeal. By giving the choice that Dr. Rajan Mahtani is the greater part investor and proprietor of the industrial facility; the Court of Appeal successfully turned around the judgement from Lusaka High Court. Moreover, the judge from Court of Appeal additionally said that the judge underneath him wasn't right in proclaiming Ventriglias as just investors without proof or evidence. 

Judge From Court Of Appeal Announces Dr. Rajan Mahtani As Legal Owner Of Zambezi Portland

Dr. Rajan Mahtani is a noted businessman, philanthropist and charity worker with more than three decades of successful business experience in Zambia. Some of his most successful companies are Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. He is also the rightful owner of the Zambezi Portland Cement, a cement-manufacturing factory. For the past ten years, Dr. Rajan Mahtani has been fighting a lone battle at the Lusaka High Court for the rightful takeover of the Zambezi Portland Cement. As a result of the several limitations and shortcomings of the Zambian legal system, justice was delayed for almost a decade. The judge who made the last announcement was Justice Nkonde and even he failed to give a transparent and ethical judgement. According to the final judgement from Lusaka High Court, the Ventriglias were regarded as only shareholders of the ZambeziPortland Cement.

Since this judgement was unethical, Dr. Rajan Mahtani then approached the Court of Appeal. The judge from the Court of Appeal was Justice Mwinde who gave the final judgement on 31^st January 2019. According to this judgement, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Zambezi Portland Cement factory with 58 percent shares. On the other hand, the Ventriglias owned Ital Terrazzo Limited is the minority shareholder of the Zambezi Portland Cement with only 42 percent shares. As per this shareholding pattern, Dr. Rajan Mahtani becomes the legal owner of the Zambezi Portland Cement factory.

While giving this judgement, justice Mwinde from the Court of Appeal also condemned the judgement from Lusaka High Court by announcing that the judge below him was wrong in declaring Ventriglias as only shareholders without any proof or evidence.