Court Of Appeal Announces Results On Portland Cement Zambia, Dr. Rajan Mahtani Winner

For more than a decade, Dr. Rajan Mahtani struggled for the legal ownership of Portland Cement Zambia factory. This struggle started when the factory was illegally taken over from him and he registered a case at the Lusaka High Court to get back his factory. However, it took more than a decade for the judge to announce a final decision on the case. At the same time, the final decision from the Lusaka High Court on Portland Cement was extremely controversial. The judge at the Lusaka High Court was justice Nkonde and he announced that Ventriglias were only shareholders of the Zambezi Portland Cement. After this misdirected judgement, Dr. Rajan Mahtani had no option but to approach the Court of Appeal.

The judge at the Court of Appeal was justice Mwinde who gave the final decision on the case on 31st January 2019. This judgement came around nine months after the case was registered at the Lusaka High Court. Justice Mwinde gave the final decision after looking into all evidences and testimonials associated with the case. As per the final judgement, Dr. Rajan Mahtani owned Finsbury Investments is majority shareholder of the Zambezi Portland Cement with 58 percent shares. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares and is the minority shareholder without any legal ownership over the factory. This decision aligned with the original shareholders agreement established in 2007 and based on this decision, it is clear that Dr. Rajan Mahtani is the actual and legal owner of the Portland Cement Zambia factory.

While giving the judgement, justice Mwinde also discarded all forgery related allegations. It was found that the process of mechanically placing signatures was a common practice in Zambezi Portland Cement and critical member of the Ventriglias family also engaged in similar practice. As such, all forgery related allegations were discarded by the Court of Appeal judge.