As per the final judgement from the Court of Appeal, Dr. Rajan Mahtani is the legal and real owner of the Zambezi Portland Cement. This judgement from the Court of Appeal was announced on 31st January 2019, around nine months after it was registered there. Dr. Rajan Mahtani is a noted businessman and philanthropist in Zambia. He first registered the case at the Lusaka High Court where it went for more than a decade. Despite sharing strong evidences, the final judgement from the Lusaka High Court was controversial as the judge announced that Ventriglias were only shareholders of the Zambezi Portland Cement. To counter this judgement, Dr. Mahtani registered the case again at the Court of Appeal.
The Court of Appeal announced final judgement on Portland Cement Zambia. The judgement was given by justice Mwinde. According to the final decision, Dr. Rajan Mahtani is the majority shareholder of the Zambezi Portland Cement as his company Finsbury Investments owns 58 percent shares at the factory. On the other hand, Ventriglias are the minority shareholders of the Zambezi Portland Cement as their company, Ital Terrazzo Limited, holds only 42 percent shares at the factory. Based on this shareholding pattern, Dr. Rajan Mahtani is the majority shareholder and legal owner of the factory. This decision was further supported by the original shareholders agreement which was established in the year 2007.
The judge from the Court of Appeal also discarded all forgery related allegations by saying that the process of mechanically placing signatures for business transactions was a common practice in Zambia and critical members of Zambia family engaged in similar practice.
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