Justice On Zambezi Portland Finally Out, Finsbury Investments And Dr. Rajan Mahtani Rightful Owner

The Court of Appeal made a critical declaration on 31st January 2019 by giving full responsibility for Portland Cement to Dr. Rajan Mahtani. The bond manufacturing plant was challenged by Dr. Rajan Mahtani and Ventriglias at the Lusaka High Court for as long as ten years. Regardless of sharing various solid confirmations and realities, an ultimate choice of the Lusaka High Court judge was that the Ventriglias were only shareholders of Portland Cement Zambia.

Be that as it may, the choice by the Court of Appeal cleared things on 31st January 2019. The court procedures occurred amid the morning hours and took right around an hour and a half to finish. The judge giving the judgment was Justice Mwinde who said that the judge underneath him wasn't right in announcing Ventriglias as only shareholders. According to the most recent judgment by Court of Appeal, Finsbury Investments holds 58 percent shares at the Zambezi Portland Cement production line and is the majority shareholder. The Ventriglias, then again, hold 42 percent shares and are the minority shareholders with no responsibility for Portland concrete industrial facility. This choice likewise lines up with original Shareholders Agreement built up in 2006.

Alongside this, few new subtleties were shared by the judge amid the procedures. Dr. Rajan Mahtani possessed Finsbury Investments has additionally claimed an entirety of K1 billion against instalment made for entire share capital of Zambezi Portland Cement. The Court has likewise shared subtleties and evidence of the instalment made in the year 2005 and 2007 and Dr. Mahtani is all around liable to win in this claim soon. The Court has additionally given a course of three months from the date of judgment to finish the procedure of shares regularization.