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Showing posts from March, 2019

Final Decision From Court Of Appeal Announced, Finsbury Investments Wins Zambezi Portland Case

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Dr. Rajan Mahtani is a noted businessman and charity worker in Zambia with numerous successful business ventures. For this past ten years, he has been fighting for the ownership of Zambezi Portland Cement, a cement-manufacturing factory. While Dr. Rajan Mahtani had all evidences and testimonials to sufficiently prove his legal ownership over the factory, he was failed by the shortcomings of the Zambian judicial system. The case dragged for more than ten years at the Lusaka High Court and even after that, the final decision was flawed. The judge from the Lusaka High Court announced that the Ventriglias were majority shareholders of the Zambezi Portland Cement . However, hopes on the legal and judicial system of Zambia were restored after the decision from the Court of Appeal. Dr. Rajan Mahtani took the case further to the Court of Appeal which announced its final decision on 31 st January 2019. As per this decision, Finsbury Investments which is owned by Dr. Rajan Mahta

The Court of Appeal Declared Its Final Judgment On Zambezi Portland Cement, Dr. Mahtani Relieved

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Portland Cement Zambia is a noted cement manufacturing factory in Zambia. This cement factory is being contested by Dr. Rajan Mahtani and the Ventriglias at the Lusaka High Court. In the month of May 2018, the judge from the Lusaka High Court announced that Ventriglias were only shareholders of the Zambezi Portland Cement. After this, the case was taken to the Court of Appeal wherein the final judgment and the fate of the Zambezi Portland Cement were announced. As per this judgment, Finsbury Investments is majority shareholder of Zambezi Portland with 58 percent shares and Ventriglias are minority shareholders with 42 percent shares. With this decision, Dr. Rajan Mahtani owned Finsbury Investments automatically becomes the legal owner of the Zambezi Portland Cement. Also, this decision aligns with the original Shareholders Agreement which was established in the year 2005 between the original members. Unlike Lusaka High Court, the judgment by the Court of Appeal was abs