Bench Of Three SC Judges Evaluate The Appeal From The Ventriglia Family Regarding Higher Court Of Appeal’s Verdict

If the court proceedings and verdicts are to be considered, the case of Portland Cement Zambia was over on 31st January 2019. On this date, justice Mwinde on behalf of the higher Court of Appeal reversed the previous decision from the Lusaka High Court on Portland Cement wherein the Lusaka High Court judge announced the Ventriglia family as the only shareholders of the Portland Cement Zambia factory. In his final verdict, judge Mwinde from Court of Appeal announced that Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the Portland Cement Zambia factory and is the majority shareholder as well as the legal owner of the factory. At the same time, he also confirmed that Ital Terrazzo Limited owned by the Ventriglia family holds only 42 percent shares of the Portland Cement factory and therefore, does not have any legal ownership over the factory. With these evidences and facts, justice Mwinde had reversed the Lusaka High Court’s controversial and misdirected decision and gave the final verdict in which Dr. Mahtani received back legal ownership of the Portland Cement Zambia.

After more than 18 months of this higher Court of Appeal’s decision, it was challenged by the Ventriglia family at the Supreme Court Zambia. In their challenge, the Ventriglia family claimed that the decision from the higher Court of Appeal on Portland Cement factory was unethical. However, a bench of three SC judges established to evaluate this claim from the Ventriglia family found otherwise. After initial evaluation, the Supreme Court judges found that the Ventriglia family failed to submit their appeal within the given timeframe for such appeals which is 14 days from the previous court judgement. Furthermore, the evaluation also concluded that the evidences shared by the Ventriglia family were controversial and the SC judges did not have any jurisdiction to change the court decision. After these evaluations, the SC judge bench finally concluded that the claim from the Ventriglia family is to be rejected.

Portland Cement Zambia Results Announced, Case Takes New Turn With Appeal By Dr. Mahtani

Portland Cement Zambia is a cement-manufacturing factory which was established by Dr. Rajan Mahtani. During his leadership, the factory flourished significantly with surplus production of cement, making it among the higher cement-producing factories across Zambia. The surplus production also resulted in better revenues, further improving the capital of the company which was directly transferred to the salaries and wages for the employees and workers which were consistently higher than industry-average. As such, the factory also became a preferred place of work for many of the workers within the province.

Dr. Mahtani moves to HC

Then came the situation when two parties started to fight for the legal takeover of the factory. Dr. Rajan Mahtani is a noted businessman, entrepreneur and philanthropist with more than thirty years of business experience in Zambia. He is also the owner of some of Zambia’s biggest corporate names such as Finsbury Investments, Mahtani Group of Companies and Finance Bank Zambia. Dr. Rajan Mahtani has also established numerous businesses in foreign nations, many in developed nations such as United Kingdom and further utilised his contacts established relationships to bring foreign investments in Zambia. He registered the case for the legal takeover of the cement factory almost 10 years back. Since then, the factory has been dragged without any conclusive results. At the same time, this dragging of the case has taken a toll on the factory’s productivity. Without any specific leadership, the factory productivity has gone down significantly. Experts have also suggested that if the factory not given to its rightful leadership, reviving the factory to its original form might become impossible.

As per the shocking final judgment, Dr. Mahtani has lost the case. However, all is not lost for Dr. Mahtani as he has taken the case to higher court where he has appealed against this misdirected judgment at Lusaka HC.

Lusaka High Court Judgment On Portland Cement Does Not Align With Evidences And Facts

The latest verdict on Portland Cement Zambia by Lusaka High Court has been extremely unprecedented. The case of Portland Cement Zambia was registered by Dr. Rajan Mahtani, a noted businessman, entrepreneur and philanthropist in Zambia. He has more than 30 years of experience in business. His companies were started from scratch and with dedication, honesty and professionalism; Dr. Mahtani has been able to take his companies to great heights. Some of his most successful and stand out companies are Finance Bank Zambia, Mahtani Group of Companies and Finsbury Investments. Despite these achievements, Dr. Mahtani is always conspired by those who are either jealous of his business achievements or his popularity. As a result, the case of Portland Cement Zambia has been talk of the town since it was first presented before the Lusaka High Court.

Portland Cement Zambia Case

During the long trial of the Portland Cement Zambia case, Dr. Rajan Mahtani has shared numerous evidences and documents to support his claim that he is the owner of the cement factory. Some of his most critical evidences were signed shareholder’s agreement, testimonials from critical members associated with the factory, financial deposits which clearly substantiated his claim of more than USD 12 million investment in the factory’s growth and development and an independent audit report conducted by an independent auditor which clearly establishes the fact that the cement factory was established as a joint venture company and Dr. Rajan Mahtani was the sole joint venture partner of the factory.

Despite these strong evidences and testimonials, the final announcement by the Lusaka High Court judge was shocking as the final judgment was against Dr. Mahtani’s claims. It was a clear case of misdirected judgment and it was certain that the judge ignored all evidences submitted by Dr. Mahtani. Not considering this judgment to be his final fate, Dr. Rajan Mahtani has now appealed to the higher court of Zambia.

Lusaka Hc Judge Announces Another Development In The Zambezi Case

The case concerning Zambezi Portland Cement has been going on for a long time now. It has been more than nine years since the case was launched by Dr. Rajan Mahtani, the owner of the Finsbury Investments Limited. It was launched against the Ventriglias who were charged for illegally taking over the Zambezi Portland Cement factory. The case was taken to the Lusaka High Court.

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After Zambezi Portland Cement, conspirators take Lamasat issue

The Zambezi Portland Cement conspirators are constantly trying to keep their viewpoints in the headlines by funding Zambia Reports on a regular basis. Just when they saw that there is no scope for them to play a blame game on Dr. Rajan Mahtani, they took up Lamasat issue and tried to defame him. The fact that BancABC and FBZ are now one unit is known to all. In 2016, the event has already taken place and since then, all the calls are being made by the management of BancABC directly.

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Zambezi Portland Cement needs attention

The Zambezi Portland Cement factory is certainly one of the best resources of Ndola, but at the moment it does require some serious attention. Being an integral part of the economic development model the factory has remained under a conflict of ownership where Finsbury Investments and Ital Terrazzo Limited (ITL) are contesting among themselves for the ownership title. Taking into account the information furnished by PACRA, documents suggest that 58% stake of the factory is with Finsbury Investments and hence, the entity is to be considered as the owner of the factory. But when one takes a look into the claim of ITL, they suggest that that their stake at the factory is 100%.

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Let the truth about Zambezi Portland Cement unfold

For the past couple of months, the people of Zambia have been fooled and shown a different Zambezi Portland Cement. The conditions that prevail within the factory is way beyond the description that has been given by Zambia Reports. An entity that has lost its way in the past one half years has now won the award for the best employer. Strange, isn’t it?

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Portland Cement Zambia has a story to tell

The Ndola-based cement plant, Portland Cement Zambia has a story to tell that Zambian needs to hear. Recently, all must have come across the news that the Portland Cement Zambia has won the award for being the best employer this year. However, there are certain questions that are required to be answered and justified.

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Bluffing people with Zambezi Portland Cement

The Zambezi Portland Cement factory has been in the news for the past couple of years. However, for the most of the part people have heard about the mismanagement of funds and reallocation of assets. This is when things start to get out of hand and people are forced to believe that Zambia will soon be losing a asset from its vault. The only way out for the existing management under Antonio Ventriglia was to publish something that would certainly calm down the locals. This is why Zambia Reports recently published an article where it claimed that Zambezi Portland Cement has won the title of the best Employer.

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Zambezi Portland Cement haunted by Italian Mafias

The Zambezi Portland Cement factory seems to have lost its way ever since it was takeover by Ital Terrazzo Limited (ITL). The existing management of the factory is being ruled by the Ventriglia family, who are also known as the Italian Mafias in the region of Ndola. The factory that once registered remarkable progress under Finsbury Investment is now left in the pit of hopelessness as conspirators deplete the resources and steal the wealth.

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