Dr. Rajan Mahtani Owned Finsbury Investments Announced Majority Shareholder Of ZPC

31st January was a historic day for Dr. Rajan Mahtani as he received true justice for his patience and perseverance. Dr. Rajan Mahtani is a noted businessman and philanthropist who have been fighting for the legal takeover of the Zambezi Portland Cement for the past ten years. The case was first registered at the Lusaka High Court where it remained pending for more than a decade. Despite sharing evidences and testimonials, the judge from the Lusaka High Court announced that Ventriglias were only shareholders of the Zambezi Portland Cement. 


As such, Dr. Rajan Mahtani was left with no choice but to approach the higher Court of Appeal. The judge from the Court of Appeal was justice Mwinde and he announced the final decision on 31st January 2019. This announcement effectively reversed the judgement from Lusaka High Court judge. According to the Court of Appeal’s decision, Finsbury Investments holds 58 percent shares and Ital Terrazzo Limited holds 42 percent shares at the Zambezi Portland Cement factory. Based on this decision, Dr. Rajan Mahtani owned Finsbury Investments is the majority shareholder of the Zambezi Portland Cement factory. 

Furthermore, the judge from the Court of Appeal also said that the judge from Lusaka High Court was wrong in declaring Ventriglias as only shareholders of the Zambezi Portland Cement. While giving this judgement, the Court of Appeal also revealed that Finsbury Investments had claimed a sum of K1 Billion against the payment made for the entire share capital of Zambezi Portland Cement factory. Evidences have also been submitted in the form of financial details from year 2006 and 2007. The final judgement regarding the claim will be shared shortly.
Location: Zambia

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