Supreme Court Of Zambia Discards Challenge On Zambezi Portland Cement By The Ventriglias

Dr. Rajan Mahtani owned Finsbury Investments as the majority shareholder of the Portland Cement Zambia with 58 percent shares.
By: Dr. Rajan Mahtani
 
LUSAKA, Zambia - Nov. 10, 2020 - PRLog -- Dr. Rajan Lekhraj Mahtani owned Portland Cement Zambia has seen many ups and downs in its life. The factory was first fought at the Lusaka High Court after claims from Dr. Mahtani that it was unethically taken over from him. After a decade of case proceedings, the judge at the Lusaka High Court gave a controversial decision announcing Ventriglias as the only shareholders of the Portland Cement Zambia. This decision was immediately challenged by Dr. Rajan Mahtani at the Higher Court of Appeal with all evidences and testimonials. Based on these evidences, the final decision from the Higher Court of Appeal reversed the previous judgement from Lusaka High Court judge and announced Dr. Rajan Mahtani owned Finsbury Investments as the majority shareholder of the Portland Cement Zambia with 58 percent shares. He also announced Ventriglias owned Ital Terrazzo Limited as holder of 42 percent shares and based on this shareholding pattern, Dr. Rajan Mahtani was announced as actual owner of the Portland Cement Zambia factory.
However, the Ventriglias challenged this decision from the Higher Court of Appeal by claiming that the shareholding pattern identified by justice Siavwapa from the higher Court of Appeal was incorrect. They also claimed that the amount finalised for payment against the majority shareholders owned by Dr. Rajan Mahtani was not K580,000 but K580 million. This claim was made at the Supreme Court of Zambia, the highest civilian court system in any nation.

However, a bench of comprising of three judges from the Supreme Court of Zambia rejected this claim as it did not follow the legal requirements which suggests that claims against court judgements must be registered within 14 days of the judgement itself. The Ventriglias already crossed that time-period. Furthermore, the judge also confirmed that the claim was baseless and therefore was rejected by Supreme Court.

About Dr. Rajan Mahtani
Website: http://drmahtani.com

Dr. Rajan Lekhraj Mahtani is a noted businessman in Zambia with successful companies like Zambezi Portland Cement, Finsbury Investments and Mahtani Group of Companies. He is noted for his philanthropic and charitable contributions towards Zambian society and economy.
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