Supreme Court’s Announcement Comes After Bizarre Appeal From The Ventriglia Family

The actual court proceedings for Portland Cement Zambia factory was over on 31st January 2019 when the higher Court of Appeal announced its final verdict on the case. Dr. Rajan Lekhraj Mahtani is one of the most respected and noted businessman in Zambia. He is known for his companies such as Mahtani Group of Companies, Finsbury Investment and Finance Bank Zambia. Dr. Rajan Mahtani also held the ownership for Portland Cement Zambia via his company Finsbury Investments before it was unethically taken over by the Ventriglia family. A case was registered at the Lusaka High Court with the hope of getting quick judgement. However, the Lusaka High Court dragged the case proceedings to more than a decade. Despite this, the final decision coming from the Lusaka High Court was controversial and justice Nkonde announced the Ventriglias as the only shareholders of the Portland Cement Zambia.

Dr. Rajan Mahtani, after consulting with his legal team, immediately decided to appeal against this misdirected and controversial decision. The appeal was approached at the higher Court of Appeal and on 31st January 2019, justice Mwinde on behalf of the higher Court of Appeal gave the final verdict on the case. As per the verdict, Dr. Rajan Mahtani owned Finsbury Investment holds 58 percent Portland Cement shares and is the majority shareholder as well as legal owner of the factory. Based on these evidences, the decision from the Lusaka High Court was effectively reversed.

The Ventriglia family, unhappy with the loss of the cement manufacturing factory from their control, decided to try their luck by approaching the Supreme Court Zambia. In their claim, the decision from the higher Court of Appeal was challenged. The Supreme Court established a bench of three SC judges for evaluating the case. After evaluation, the Supreme Court judge came to the conclusion that the claim from the Ventriglia do not hold any conclusive support and therefore, was effectively rejected.

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