The LSC (Lusaka High Court) recently concluded the shareholding hearing case of Dr. Rajan Mahtani owned Zambezi Portland. The case involved Rajan Mahtani, Chairperson of the Finsbury Investment Limited and The Ventriglia Family, including Antonio Ventriglia & Manuela Ventriglia. This case involved ownership of the ZPC (Zambezi Portland Cement). While the hearing was concluded, the judgment day for this case is still not allocated.
During the re-examination process at the Commercial court, Dr. Rajan Mahtani maintained his claim of being the Zambezi Portland’s true owner, as per the share agreement. The case was first established by Finsbury Investment wherein the Ventriglia family was accused of illegally gaining ownership of the Zambezi Portland. The counter-claim was then established by the Ventriglias Family and Finsbury became the defendant, making it is a full-blown case.
As per Dr. Rajan Mahtani’s initial claim, the shares of the Portland Cement was under him as he is the registered custodian and he did not attract any price for property transfer. To prove his claim, there were many exhibits that indicated Dr. Mahtani as a JVP (Joint Venture Partner) as per shareholder agreement. The agreement also did not mention anywhere Dr. Mahtani as the shareholder. Furthermore, Dr. Mahtani has been accused of arm-twisting one of the signatories for transferring the documents. However, this claim has been considered as ludicrous and unreasonable as he cannot gain anything by arm-twisting just one individual. Therefore, it can be clearly seen here that Dr. Mahtani is being falsely accused and the defendants lack in terms of evidentiary support or any type of factual data.
The trial case has been commended by the judge and both the parties have been requested for continuous support. The defense team has been given the date of 18th December 2017 for filing their oral submissions. After this, the judgment date will be set. The case is expected to go to Dr. Mahtani as his documents and evidence are stronger than the defendants, the Ventriglias.