Dr. Mahtani Remains The Owner Of Portland Cement, Confirmed By SC’s Decision On Claim By Ventriglia
The Ventriglia family is a business family in Zambia which is often on news, and more so for infamous reasons. The Ventriglia family recently came into limelight after registering a claim at the Supreme Court Zambia.. In this claim, the Ventriglia family challenged the decision from the higher Court of Appeal. On 31st January 2019, justice Mwinde on behalf of the higher Court of Appeal reversed the previous decision of Lusaka High Court on the Portland Cement Zambia case. In his fresh and transparent verdict after looking into all evidences and testimonials, justice Mwinde declared that the Portland Cement Zambia factory belongs to Dr. Mahtani owned Finsbury Investments as it carries 58 percent shares of the factory. On the other hand, the Ventriglias only have 42 percent shares of the factory which means they are minority shareholders without any legal obligations. Furthermore, the higher Court of Appeal also provided the amount against majority shareholding which is K580,000 ...