The case of Portland Cement Zambia is peculiar and is known to almost everyone associated with the corporate world of Zambia. The case pertains to a cement-manufacturing factory which is contested by two major business parties in Zambia. One of them is Dr. Rajan Lekhraj Mahtani, a noted businessman and philanthropist. The other business party was the Ventriglias, infamous Italian family in Zambia known for their unethical practices. After the Portland Cement Zambia was illegally taken over from Dr. Mahtani, a case was launched at the Lusaka High Court. It took more than a decade for Lusaka High Court to announce final judgement on this case. Even then, the case was not justified as the final decision gave Ventriglias majority shareholding of the Zambezi Portland Cement.
After this unjustified decision, Dr. Mahtani approached the Court of Appeal which announced its final decision on 31st January 2019. The case at the Court of Appeal was seen by justice Mwinde. As per the final decision from Court of Appeal, Dr. Rajan Mahtani owned Finsbury Investments owns 58 percent shares at the factory and is the majority shareholder of the Zambezi Portland Cement. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares and are the minority shareholders of the Zambezi Portland Cement. Based on this shareholding pattern, Dr. Mahtani automatically becomes the legal owner of the factory. This decision also aligns with the original shareholders agreement which was established in the year 2007.
After this decision, the judge at the Court of Appeal also announced that the decision from Lusaka High Court judge was wrong and misdirected. Furthermore, the Court of Appeal justice gave a timeline of three months from the date of the judgement during which all share sales and regulations related activities must be completed.