Verdict Of Supreme Court Zambia Means Portland Cement To Remain Under Ownership Of Dr. Mahtani

LUSAKA, Zambia - Feb. 17, 2021 - PRLog -- Finsbury Investment is an investment organization whose director is Dr. Rajan Mahtani, a noted businessman from Zambia. Finsbury Investments has been fighting for the legal takeover of the Portland Cement Zambia factory for a long time. The first court to hear the case was Lusaka High Court. However, Lusaka High Court failed to provide justice for Dr. Rajan Mahtani and announced Ventriglias as only shareholders of the Portland Cement. Then Dr. Rajan Mahtani approached the higher Court of Appeal. Judge Mwinde gave the final judgement at the higher Court of Appeal and announced Dr. Rajan Mahtani as the majority shareholder and legal owner of the Portland Cement factory.

After more than a year of this decision, the Ventriglias challenged the higher Court of Appeal judgement by appealing to the Supreme Court of Zambia. In this appeal, the Ventriglias claimed that the declaration by the Higher Court of Appeal making Finsbury Investments as majority shareholder of Portland Cement was incorrect. In their appeal, the Ventriglias also claimed that the actual amount payable to them was not K580,000 but K580 million. With these claims, the Ventriglias approached the higher Court of Appeal.
However, a bench comprising of three judges at the Supreme Court of Zambia rejected this plea. This plea was rejected on various grounds, namely the law forbidding re-appeals that pass the 14-day mark after the initial judgement from the previous court.  Furthermore, the judges also said that the appeal did not have any evidence for an appeal and as such, was rejected by the Supreme Court Zambia.

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

Dr. Rajan Lekhraj Mahtani is a noted businessman in Zambia with more than 30 years of business experience. He is the owner of noted companies in Zambia, including Finsbury Investments and Mahtani Group of Companies. He is also noted for his philanthropic and charitable contributions towards the nation.