The Court of Appeal on 31st January 2019 announced the final judgement on Zambezi Portland Cement. According to this judgment, Dr. Rajan Mahtani is the majority shareholder for the cement factory and is the legal owner of the factory. Along with this decision, several revelations were made. According to the protection of the appealing party, USD 250,000 was paid to the Zambezi Portland Cement constrained in the year 2005 which secured the majority shareholdings of the factory. Whenever changed over, the sum is equivalent to 1 Billion Kwacha. Moreover, the first Shareholders’ Agreement was set up on 26th February 2007 which can be found at the page 663 of Record of Appeal-volume one. As indicated by this current shareholders agreement, the Appellant Finsbury Investments Limited got 58 percent offers of the ZPC making them the essential investors of the industrial facility.
Amid the case procedures, charges were made that the built up understanding by the Appellant was a cheat. In any case, these claims were disposed of as the Court of Appeal considered utilizing electronically signature as a satisfactory practice crosswise over business exchanges directed between gatherings. The procedure is considered as lawful and helpful at whatever point required and subsequently, no proof could be set up against the Appellant.
The Court of Appeal additionally settled a noteworthy choice after constantly hunting down laws identified with Proper Transfer and Property charge. This was a notable success for the Appellant Finsbury Investment as the instance of Zambezi Portland Cement has been continuing for a long time with no last judgment. Indeed, even the choice by the Lusaka High Court where the ZPC case was recently directed given a judgment against the Appellant. In any case, this judgment was considered as misled by the higher court Judge and last judgment was given which has built up Finsbury Investment Limited as the larger part investor of Zambezi Portland Cement.