The Lusaka High Court recently confirmed its closure of the long pending case between Finsbury Investments Limited and Ital Terrazzo Limited. Finsbury Investments is under the ownership of Dr. Rajan Mahtani and Ital Terrazzo Limited is a private entity whose sole beneficiaries are the Ventriglias family. The case is for the ownership of Zambezi Portland Cement, a premier cement factory in Zambia. Dr. Rajan Mahtani launched this case at the high court after it was taken over by the Ventriglias. While Dr. Rajan Mahtani has accused the Ventriglias of illegally and forcefully taking over the factory, defendants have launched a counterclaim saying that the shares of Dr. Mahtani in the factory are not paid up, discrediting his ownership in the factory.

During the case proceedings over the years, Dr. Rajan Mahtani has produced numerous evidence and documents that prove his ownership on the cement factory. First, he holds 58 % shares of the Zambezi Portland while the Ventriglia family owns 42% only. This claim has been substantiated by signed shareholder agreement and various financial exhibits. Second, he is the sole investor in share capital for the factory which can be proved by financial exhibits and agreements. Third, the factory was operating under joint-venture partnership with Dr. Mahtani as joint-venture partner and not just shareholder. This claim has been substantiated by audit reports done by independent auditors. All these evidences clearly indicate that Dr. Mahtani is the joint venture partner for the factory with highest share percentage, making him the legal owner of the factory.

The final date for judgment will be given after both parties have submitted their oral and written submissions by December 2017. After evaluating these submissions, the judge will provide final judgment. It has been nine years since the case was first registered and it is high time for even the court to close the case.