Court Of Appeal Announced Finsbury Investment As Majority Shareholder And Owner Of ZPC


Dr. Rajan Mahtani is one of the most successful and noteworthy businessman in Zambia. He is known for several top establishments in Zambia and outside, majorly Finsbury Investment, Mahtani Group of Companies and numerous companies established across development nations such as United Kingdom. He is also the owner of Zambezi Portland Cement for which he has been fighting a case at the Lusaka High Court for more than ten years. The case was registered at the Lusaka High Court by Dr. Rajan Mahtani on behalf of Finsbury Investments. However, despite sharing all relevant evidences and testimonials, the final judgement was given against Dr. Mahtani’s claims. This forced Dr. Mahtani to make an appeal to the higher Court of Appeal at Zambia.
On 31st January 2019, the Court of Appeal announced its final judgment on this case, Justice Mwinde Siwvwapa who oversaw the appeal held that Justice Nkonde from the Lusaka High Court was misdirected and wrong in declaring Ventriglias as only shareholders of the Zambezi Portland when in fact, the actual truth was entirely different.
As per the latest judgement by Court of Appeal, Finsbury Investment holds 58 percent shares at the Zambezi Portland Factory and is majority shareholders of the factory. The Ventriglias hold 42 percent share and are minority shareholders of the factory. As per the original shareholders agreement which was finalised by the Court of Appeal, the factory was established as a joint venture establishment and Dr. Rajan Mahtani owned Finsbury Investments in the sole joint venture partner of the factory. This decision comes almost nine months after the final judgement by Lusaka High Court and almost ten years of wait from Dr. Mahtani’s end.

Location: Zambia

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