Final Decision From Court Of Appeal Announced, Dr. Rajan Mahtani Majority Shareholder Of ZPC

Portland Cement Zambia is a noted cement manufacturing factory in Zambia which is being contested by two biggest parties in Zambia. One of them is Dr. Rajan Mahtani, a noted businessman in Zambia with three decades of business experience. Dr. Rajan Mahtani initially registered the case at the Lusaka High Court with the hope of getting quick resolution. Soon after the start of the case proceedings, Dr. Rajan Mahtani presented numerous critical evidences and testimonials which were more than enough to prove his legal ownership over the factory. However, the shortcomings and limitations of the Zambian legal system resulted in the case stretching over to 10 years. After years of case proceedings, the final judgment was announced by the Lusaka High Court. However, this judgment was misdirected as the judge announced that Ventriglias were only shareholders of the Zambezi Portland Cement. 


The case was then taken to the Court of Appeal where the final announcement was given on 31st January 2019. As per this decision, Dr. Rajan Mahtani owned Finsbury Investments owns 58 percent shares at the Zambezi Portland factory and is the majority shareholder. At the same time, Ital Terrazzo Limited which is owned by the Ventriglias holds 42 percent shares at the factory and is the minority shareholder of the cement factory. With this decision, it is confirmed that Dr. Rajan Mahtani is the legal shareholder of the Zambezi Portland Cement. 

As per Justice Mwinde from the Court of Appeal, the judge below him was wrong in declaring Ventriglias as only shareholders of the Zambezi Portland Cement without any proof or evidence.
Location: Zambia

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