Judgment On Zambezi Portland Cement Is Out; Finsbury Investment Is Majority Shareholder As Per Court

On 31st January 2019, the outright truth with respect to the responsibility for Cement Zambia was declared by the law. Portland Cement Zambia is a cement manufacturing plant which was challenged by two noteworthy business houses in Zambia. One of them was Dr. Rajan Lekhraj Mahtani, a prominent businessman with many years of business experience. The final decision from the judge at Lusaka High Court was given against Dr. Mahtani. While it was a major blow for Dr. Rajan Mahtani, he could dispatch another intrigue at the ‘Higher Court of Appeal’ in regards to this bad form at the lower court and calmly sat tight for equity.

He was at last remunerated for his understanding on 31st January 2019 when the ‘Court of Appeal’ declared in its judgment that Dr. Rajan Mahtani is the majority shareholder for the Zambezi Portland Cement. Alongside this, various critical disclosures were made. The judge giving the judgment at the Court of Appeal was Mr. Mwinde Siavwapa. He expressed that the judge beneath him, Justice Nkonde was misled in giving the judgment that the Ventriglias had greater part shareholdings in the Zambezi Portland Cement. In a judgment which went on for very nearly a hour and a half, the judge from Court of Appeal declared that the majority shareholder of Zambezi Portland is Finsbury Investments. It is an organization possessed by Dr. Rajan Mahtani. It was likewise affirmed that the Ventriglias held 42 percent shares at the industrial facility and were the minority investors. This judgment was in accordance with the initial shareholders agreement which was built up in the year 2007 and was marked by all including gatherings.