Final Decision Announced By Court Of Appeal, Dr. Rajan Mahtani Emerges Big Winner

The Court of Appeal is one of the biggest courts within any nation. Apart from the Supreme Court, many nations have the Court of Appeal as their penultimate legal system for making critical judgements. The Court of Appeal recently announced the final decision for a Portland Cement Zambia case. This case has its own significance as it can be easily regarded as one of the longest running high profile corporate cases in Zambia. 


The Court of Appeal was presided by judge Mwinde, and he announced the final judgement on 31st January 2019. According to this judgement, Dr. Rajan Mahtani owned Finsbury Investments is the majority shareholder of the Zambezi Portland Cement with 58 percent shares. On the other hand, Ventriglias owned Ital Terrazzo Limited is the minority shareholder of the Zambezi Portland Cement with only 42 percent shares at the factory. With this judgement, it is clear that Dr. Rajan Mahtani is the legal owner of the factory. By giving this decision, the judge at the Court of Appeal effectively reversed the judgement from the Lusaka High Court. 

The judge from the Court of Appeal also discarded all forgery related allegations and confirmed that the process of mechanically placing signatures was a common practice in Zambia and even critical member of the Zambian family, Claudio Ventriglia, engaged in similar practice. Furthermore, the court of Appeal provided a timeline of three months from the date of the judgement during which all share regularization and share re-selling activities need to be completed.
Location: Zambia

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