After the announcement of the Court of Appeal regarding the Portland Cement Zambia case, it is established now that Dr. Rajan Mahtani is the actual owner of the factory. While this decision came a bit late as Dr. Mahtani had to wait for more than a decade for this decision, the final decision from the Court of Appeal was clear, transparent and based on the evidences. According to this decision, Dr. Rajan Mahtani held 58 percent shares at the factory and was the majority shareholder. On the other hand, the Ventriglias held only 42 percent shares and were the minority shareholders without any legal ownership over the factory. Based on this decision, it was declared that Dr. Rajan Mahtani is the actual owner of the factory.

To arrive at this decision, justice Mwinde from the Court of Appeal also declared the various evidences, testimonials and other documents which helped the court in arriving at the decision. One of the major evidences came from the original Shareholders’ Agreement which was established in the year 2007. According to this agreement, Dr. Rajan Mahtani had contributed a sum of USD 250,000 equivalent to 1 billion kwachas for taking over 58 percent shares of the Zambezi Portland Cement factory. This exchange has been officially written on the page number 663, Volume- Record of Appeal of the shareholders’ agreement. Furthermore, this written statement confirmed that Dr.

Rajan Mahtani was not liable to any other costs associated with the share transfer and the responsibility of the PTT (property transfer tax) went to the vendor in this case.

Furthermore, the judge from the Court of Appeal also discarded all forgery related allegations by confirming that the practice of electronically affixing signatures was common practice at Zambezi Portland Cement and since it is an accepted practice, the forgery case was made null and void.