On 31st January 2019, the final results for the Portland Cement Zambia case were announced. This announcement came from Court of Appeal, the second court to take on the case. The case of Portland Cement Zambia is age old and was established first at the Lusaka High Court by Dr. Rajan Mahtani, a noted businessman and philanthropist with more than three decades of business experience in Zambia. After the registration of the case, Dr. Mahtani shares numerous evidences and testimonials to the Lusaka High Court and it is suggested that these evidences were more than enough to prove legal ownership and claim by Dr. Rajan Mahtani. However, various shortcomings of the court resulted in the case stretching for more than a decade. The final judgement from the case came during May, 2018 and was given by justice Nkonde. According to his final decision, Ventriglias were announced as only shareholders of the Portland Cement Zambia factory. It is clear that this decision was misdirected and as a result, Dr. Rajan Mahtani approached the Court of Appeal.
The judge at the Court of Appeal was justice Mwinde who gave the final judgement on 31st January 2019. According to this judgement, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the factory and is the majority shareholder of the Portland Cement Zambia. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares at the factory and is the minority shareholder without any legal ownership over the factory. Based on this decision, it is clear that Dr. Rajan Mahtani is the actual owner of the factory. This decision from the Court of Appeal judge aligned with the original shareholders agreement established in 2007.
While giving this decision, the judge from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders of the Portland Cement Zambia as this decision was misdirected and without any basis.
