Dr. Rajan Mahtani’s continued patience reaps benefits, announced majority shareholder for ZPC

Court of Appeal is one of the higher judgment providers across all nations. As such, the judgment announced by the Court of Appeal in Zambia on 31st January was an important one. It was related to Zambezi Portland Cement, a cement manufacturing factory in Zambia. The cement factory was being contested by two major business entities in Zambia; Dr. Rajan Mahtani and the Ventriglias. Dr. Rajan Mahtani is one of the most successful and authentic businessman in Zambia with many top companies across the nation as well as outside Zambia. The Ventriglias are a noted Italian business family in Zambia with many controversies surrounding them. The Zambezi Portland Case has been contested at the Lusaka High Court for more than ten years. During this time, both sides shared evidences and other factual data to prove their legal claim and as per expert opinion, Dr. Rajan Mahtani’s case was much stronger and relevant. However, all were surprised when the final judgment announced by the Lusaka High Court judge was against Dr. Rajan Mahtani’s claim. The decision was given during May 2018 wherein the Lusaka High Court Justice Nkonde declared the Ventriglias as the only shareholders of the Zambezi Portland Cement. This prompted Dr. Rajan Mahtani to request the Court of Appeal to look into the matter.

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Final decision on Zambezi Portland was announced on 31st January 2019. As per this judgment, Dr. Rajan Mahtani is the sole joint venture owner of the factory. This decision refutes the previous decision given by the Lusaka High Court judge. It announces that Finsbury Investments which is a company owned by Dr. Rajan Mahtani holds 58 percent shares at the factory and the Ventriglias hold 42 percent shares at the factory. As such, Finsbury Investments is the majority shareholder for the factory. Furthermore, all charges of forgery have been discarded by the Court of Appeal and it has been announced that all parties will be reprocess the sales of shares within three months from the judgment date.

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