Finsbury Investment Wins Case At The Court of Appeal And Gains Ownership Of Zambezi Portland Cement

LUSAKA, Zambia - March 15, 2019 - PRLog -- Court of Appeal, one of the highest courts of Zambia in terms of power and decision making, recently announced that Dr. Rajan Mahtani is the majority shareholder and owner of Zambezi Portland Cement. This decision came on 31^st January 2019; around nine months after Lusaka High Court gave the decision against Dr. Rajan Mahtani's claims. On May 2018, the Lusaka High Court judge announced that the Italian family Ventriglias were only shareholders of Zambezi Portland. However, this decision was condemned by many and the judge from the Court of Appeal effectively reversed this unethical judgement by giving back ownership of Zambezi Portland to Dr. Rajan Mahtani owned Finsbury Investments.

As per the new decision, Finsbury Investments hold 58 percent shares at the factory and is the majority shareholder. On the other hand, the Ventriglias own 48 percent shares and are the minority shareholders of the cement factory. This decision is completely aligned with the original Shareholders Agreement established in the year 2007. The judge from the Lusaka High Court ignored this critical evidence resulting in lapse of judgement. Furthermore, the judge from the Court of Appeal has also discarded all allegations of forgery by stating that the practice of mechanically placing signatures for business transactions is common in Zambezi Portland and other businesses in Zambia and no one should be charged for this.

All parties have been asked to regularise the sales of the shares as per the new Shareholders Agreement as well as the decision from the Court of Appeal. Timeline given for this is three months from judgement date. Finsbury Investments has also claimed K1 billion against full payment made in the year 2005 for gaining majority share capital at the Zambezi Portland Cement and is likely to win this settlement.

About Dr. Rajan Mahtani

Website: http://drmahtani.com

Dr. Rajan Mahtani is a successful business also known for his philanthropic activities in Zambia. He has established many businesses in the nation and is the chairman and owner of Mahtani Group of Companies in Zambia. He has dedicated most of his life towards starting many development projects across, resulting in the growth and development of Zambia's economy. However, few groups of envious people are constantly making attempts defame him.