Legal Ownership Of Zambezi Portland Cement Given To Dr. Rajan Mahtani After Announcement By Court of Appeal


This choice from Court of Appeal came around nine months after the Lusaka High Court gave the judgment against Dr. Rajan Mahtani's allure. The case was initially enlisted at the Lusaka High Court and following ten years of case procedures, justice Nkonde shared his ultimate conclusion. As per this choice, Ventriglias were the main investors of Zambezi Portland Cement. Notwithstanding, this choice was misled as it was given with no proof or confirmation.
Dr. Rajan Mahtani then moved toward the higher Court of Appeal which gave its ultimate choice on 31st January 2019. As per this choice, Dr. Rajan Mahtani possessed Finsbury Investments is the majority share investor with 58 percent shares and Ventriglia claimed Ital Terrazzo Limited is the minority investor with 42 percent shares. Thus, the legal responsibility for Zambezi Portland Cement straightforwardly goes to Dr. Rajan Mahtani. Besides, the judge at the Court of Appeal likewise said that the judge underneath him wasn't right in pronouncing Ventriglias as only investors with no verification or proof. The judgment given by Justice Mwinde at the Court of Appeal lines up with the first Shareholders Agreement built up in the year 2007.
Moreover, the Court of Appeal expressed that all gatherings are required to continue with offer selling and regularization process which began amid December 2006. This regularization procedure must be lined up with the first Shareholders Agreement built up amid 2007 and ought to be finished inside three months from the judgment date.

Location: Zambia

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