Appeal By Ventriglias Against Higher Court Of Appeal Decision On Portland Cement Rejected

 

The war between Dr. Rajan Lekhraj Mahtani and the Ventriglias has been going on forever. This war has been political, social, personal and business related. Both names are famous in Zambia in their own way. At one side is Dr. Rajan Lekhraj Mahtani, one of the most ethical and transparent businessman in Zambia with numerous successful businesses. He is not only lauded for his successful business ventures but also for his philanthropic and charitable activities. On the other hand, the Ventriglias are notorious in Zambia for their unethical practices, business and political meddling and using unethical power to achieve their personal gains. The case of Portland Cement Zambia started when the Ventriglias utilised their power to gain control of the factory in an unethical manner. While Dr. Rajan Mahtani took the right step in approaching the higher Court of Appeal, it was not enough as political and power meddling from the Ventriglias family resulted in a misdirected and controversial decision from the Lusaka High Court in which justice Nkonde wrongfully announced Ventriglias as the only shareholder of the Portland Cement.

However, Dr. Rajan Mahtani was smart enough to challenge this misdirected decision at the higher Court of Appeal. Judge Mwinde on behalf of the higher Court of Appeal announced on 31^st January 2019 that the decision from the Lusaka High Court was unjust. As such, justice Mwinde effectively reversed the decision from the Lusaka High Court and announced Dr. Rajan Mahtani owned Finsbury Investments as the majority shareholder with 58 percent shares and also the legal owner of the factory. At the same time, the judge also confirmed that the Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares and are the minority shareholders without any legal ownership over the factory.

Few weeks ago, the Ventriglias tried their luck again by appealing against the decision of the higher Court of Appeal but that was effectively rejected by the Supreme Court and Dr. Mahtani remains the actual owner of the factory.