The case of Portland Cement Zambia is finally shut. The Court of Appeal announced the final decision which was a transparent and ethical one, unlike the judgement provided by previous court judge. In the higher Court of Appeal, the case after registered or re-appealed just after the Lusaka High Court announced that Ventriglias were only shareholders of the Portland Cement Zambia. After several court proceedings, the judge from the Court of Appeal made the final announcement on 31st January 2019.

The decision from the higher Court of Appeal was taken after looking into the evidences, testimonials and other details shared by the appellant and other parties. The final statement from the higher Court of Appeal stated that Dr. Rajan Mahtani is the actual owner and majority shareholder of the Portland Cement Zambia factory. This decision was given based on the details presented in the original shareholders’ agreement which was established in the year 2007. According to this agreement, Dr. Rajan Mahtani via his company Finsbury Investments paid a sum of USD 250,000 or 1 billion kwachas to the Zambezi Portland Cement Limited. This monetary contract was made for covering the 58 percent share capital payment for the factory which Dr. Rajan Mahtani gained after making the official payment. The original agreement also stated that this payment was made in the year 2005 and based on this payment only the original agreement between the shareholders was prepared which clearly stated Dr. Rajan Lekhraj Mahtani as the majority shareholder.

Furthermore, justice Mwinde from the Court of Appeal also confirmed that the liability of PTT (property transfer tax) was on the vendor or transferrer which in this case included the previous owners of the Portland Cement Zambia factory. At the same time, the judge also confirmed that all allegations of fraud or forgery regarding the electronic affixing of signatures at Zambezi Portland was to be discarded as it was baseless.