The case of Zambezi Portland Cement was a battle not only between two different parties claiming for the factory, but it was also between two different courts giving two different judgements. The first judgement was given by the Lusaka High Court during May, 2018. Despite sharing all evidences and testimonials, justice Nkonde gave a controversial judgement announcing Ventriglias as only shareholders of the Portland Cement. Then came the higher Court of Appeal which was approached by Dr. Rajan Mahtani. The judge at the Court of Appeal was justice Mwinde who gave the final decision on 31st January 2019. Unlike Lusaka High Court, the decision from the Court of Appeal was transparent and supported by evidences, testimonials and other facts.
The main significant proof was the instalment made by Finsbury ventures, the appealing party inside the Zambian official courtroom. This instalment included one billion kwachas or USD 250,000 which was paid to cover the whole offer capital estimation of the Portland Cement Zambia. Besides, the Court of Appeal judge likewise affirmed that in the page number 663 of the Original Shareholders’ Agreement set up in the year 2007, it was plainly settled that Dr. Rajan Mahtani bought 58 percent portions of the processing plant and turned into the lion’s share investor of the industrial facility. With this greater part shareholding, Dr. Rajan Mahtani additionally turned into the real and lawful proprietor of the production line. Moreover, this unique understanding between investors likewise showed that Dr. Rajan Mahtani was liberated from every single other sort of instalments related with the processing plant, particularly the property move charge which was the obligation of the merchant during the hour of the exchange.
Only after evaluating the above critical evidences, Dr. Rajan Mahtani was announced as the majority shareholder and owner of the Zambezi Portland Cement factory.