Court Of Appeal Legal Ownership Of Portland Cement Zambia, Finsbury Investments Owns Majority Shares

On 31st January 2019, Dr. Rajan Lekhraj Mahtani finally received justice for the long-pending Portland Cement Zambia case which was pending for more than a decade. The justice was given by Court of Appeal as the previous court, Lusaka High Court, failed to provide the same. Dr. Rajan Mahtani had initially registered the case at the Lusaka High Court with the hope of getting quick justice as he had all the evidences and testimonials required for proving his legal ownership over the factory. Despite these, the judge at the Lusaka High Court announced that Ventriglias are only shareholders of the Zambezi Portland Cement. 


Dr. Rajan Mahtani was not shattered by this judgement and announced that he is going to re-appeal to Court of Appeal. And he re-registered the case at the Court of Appeal. The judgement from the Court of Appeal came around nine months after this appeal, but was worth it. As per the final decision from the Court of Appeal judge, Dr. Rajan Mahtani owned Finsbury Investments holds 58 percent shares at the Zambezi Portland Cement factory and is the majority shareholder. On the other hand, the Ventriglias owned Ital Terrazzo Limited holds 42 percent shares at the factory and is the minority shareholder of the Zambezi Portland Cement. Based on this decision making, Dr. Rajan Mahtani becomes the legal owner of the Zambezi Portland Cement. 

The judge also discarded all forgery related allegations by announcing them to be invalid and also condemned the judgement from the Lusaka High Court judge by considering it misdirected.
Location: Zambia

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