Zambezi Portland Cement Case To Court Of Appeal, Final Decision Given By Judge

The latest results from the Court of Appeal can be considered as a slow but steady progress by the Zambian justice and legal system towards transparency and ethical decision making. With this decision from the Court of Appeal, the faith, patience and perseverance in the Zambian justice system has been once again preserved. This case pertains to Zambezi Portland Cement, a noted cement manufacturing factory which was contested by two major business parties in Zambia. These are Dr. Rajan Mahtani and the Ventriglias. While Dr. Rajan Mahtani is known for his transparent and ethical business practices as well as successful business ventures, the Ventriglias are infamous for their unethical activities and using power to turn things around their way.

Zambezi Portland Cement

After the judge from the Lusaka High Court failed to provide any justice to Dr. Rajan Mahtani and his decade long patience, the case was again approached to the Court of Appeal. Here the judge was Justice Mwinde and he announced the final decision on 31st January 2019. According to this decision, Dr. Rajan Mahtani owned Finsbury Investments is the majority shareholder of the Zambezi Portland Cement with 58 percent shares. On the other hand, Ital Terrazzo Limited which is owned by the Ventriglias holds 42 percent shares and is the minority shareholder of the cement factory. According to this shareholding pattern, Dr. Rajan Mahtani is clearly the legal owner of the Zambezi Portland Cement and winner of the case. This decision from the Court of Appeal also aligns with the original shareholders agreement which was established in the year 2006.

By giving this judgement, Justice Mwinde effectively reversed the judgement by Lusaka High Court. He also said that the judge below him was wrong in declaring Ventriglias as only shareholders without having any evidence or proof. Furthermore, the court has provided timeline of three months for completing the share regularization process.