Higher Court Of Appeal’s Decision On Portland Cement Remains Intact With Supreme Court’s Decision

Since its establishment, Finsbury Investments has made a name for itself with its strategic business operations as well as ethical and transparent business practices. Dr. Rajan Mahtani holds the position of Executive Chairman at Finsbury and is known for his ethical standings and transparent business operations. In the year 2006, a stakeholder meeting was established and Dr. Rajan Mahtani owned Finsbury Investments was officially established at the majority shareholder of Portland Cement with 58 percent shares. This very official stakeholders’ agreement also confirmed the shares ownership of Ventriglias owned Ital Terrazzo Limited which was at 42 percent. This shareholding pattern was agreed upon and accepted by all stakeholders in written consent form. Furthermore, this shareholding change was necessary for Finsbury Investments to be eligible to take loans and financial support from banks and other institutions for completing the construction of the Portland Cement and starting the smooth operations.

However, the illegal and alleged act from the Ventriglias halted everything. After the factory was unethically taken over by the Ventriglias, Dr. Rajan Mahtani fought a legal war for more than a decade at the Lusaka High Court. However, the Lusaka High Court failed to give an authentic and right judgement as political meddling got to the Lusaka HC justice. Within a matter of days, Dr. Rajan Mahtani approached the higher Court of Appeal wherein Justice Mwinde took over the case. After several case proceedings, the final decision from the Court of Appeal came on 31st January 2019. In this decision, the judgement from the Lusaka High Court was reversed and Dr. Mahtani was established as legal owner of the Portland Cement factory.

Be that as may, the Ventriglias tried their luck once more by approaching the Supreme Court Zambia. In their appeal, they challenged the decision from the Court of Appeal. However, this appeal was effectively rejected by the Supreme Court due to legal obligations, circumstantial evidences and lack of support from the Supreme Court judges. As of now, Dr. Mahtani remains the actual owner of the Portland Cement factory.

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