The Zambia citizens were exposed with the real truth related to the Zambezi Portland Cement factory case, one of the longest running high-profile corporate cases in Zambia. The case was led by Dr. Rajan Mahtani, a noted businessman and philanthropist in Zambia with more than three decades of business experience. Dr. Rajan Mahtani registered the case at the Lusaka High Court and promptly shared the various evidences and testimonials which were sufficient to prove his legal ownership over the factory. However, the shortcomings of the legal system and inability of the judge to take the right decision resulted in the case dragging for more than a decade. The final judgement for the factory was announced during the month of May, 2018 and despite the evidences, the final judgement was controversial. The judge from the Lusaka High Court announced that the Ventriglias were only shareholders of the Zambezi Portland Cement. After this announcement, the case was taken to Court of Appeal.
The Court of Appeal gave its decision on 31st January 2019. The decision was given by Justice Mwinde and he announced that Finsbury Investments was the legal owner of the factory. As per the decision, Dr. Rajan Mahtani owned Finsbury Investments is the majority shareholder of the Zambezi Portland Cement with 58 percent shares. On the other hand, Ventriglias are the minority shareholders of the Zambezi Portland Cement with 42 percent shares. According to this shareholding pattern, Dr. Rajan Mahtani is the legal owner of the cement manufacturing factory. This decision also aligns with the original shareholders agreement which was established in the year 2007.
Furthermore, the judge from Court of Appeal while giving the judgement also announced that the judge below him was wrong in declaring Ventriglias as only shareholders of the Zambezi Portland Cement without having any proof or evidence. A timeline of three months from the judgement date has been given for the parties for completing the share regularization process.