Dr. Rajan Mahtani Relieved After Court of Appeal Announces Zambezi Portland Case In Favour

A noteworthy declaration was made by the Court of Appeal with respect to Zambezi Portland Cement on 31^st January 2019. The judge managing the case at the Court of Appeal was Justice Mwinde and he turned around the judgment at the Lusaka High Court which occurred on May 2018 and said that Ventriglias were only shareholders of Zambezi Portland Cement. This choice came after over an hour and a half of session at the Court of Appeal wherein it was finished that Dr. Rajan Mahtani possessed Finsbury Investments is majority shareholder of Zambezi Portland with 58 percent shares and the Ventriglias are minority investors with 42 percent shares. Likewise, the judge disposed of all charges of fabrication as it was affirmed that the act of putting mechanical signatures was normal in Zambezi Portland and even Ventriglias relatives have engaged with comparable practices.

Another essential detail which was set up amid this case is the instalment made and guaranteed by Finsbury Investments. Finsbury Investments have made an instalment of K 580,000,000 for business enlistment of the concrete production line alongside premium. The organization has additionally gotten all majority shares to this legitimate enlistment. In the meantime, Finsbury Investments have asserted an aggregate of K 1 billion against the instalment made on 27th July 2005 for picking up offer exchanges. These offer exchanges were set up between December 2006 and January 2007.

Numerous reports were distributed after this judgment from the Court of Appeal yet every one of them was disposed of because of their irregularity and absence of proof to guarantee anything against the Court of Appeal.