Ventriglia Create Another Controversial Claim To Take Over Portland Cement, Rejected By SC

Dr. Rajan Lekhraj Mahtani is one of the most respected and celebrated businessmen in Zambia. In his more than three decades of business and entrepreneurial experience, Dr. Mahtani has been able to establish ad develop several organizations across industries. Some of his top companies are Finsbury Investments and Mahtani Group of Companies. Finsbury Investments is an investment organization which is responsible for financially managing several other organizations. In the year 2007, Finsbury Investments via a formal shareholding agreement received 58 percent shares of Zambezi Portland Cement factory and therefore, became the majority shareholder and legal owner of the factory. This change in the shareholding was established with the objective of receiving loans from banks and other financial institutions and completing the construction of Zambezi Portland Plant and furthering its operations.

It is a public knowledge that Finsbury Investments was in the middle of several crucial constructions and development projects when the Ventriglia family decided to disrupt the operations by questioning the legality of the shareholding instrument associated with Zambezi Portland Cement factory. Despite taking the legal route and registering the case at the Lusaka High Court, Dr. Rajan Mahtani faced a corrupt legal institution when the judge from the Lusaka High Court announced Ventriglias as the only shareholders of the Portland Cement Zambia. However, all hope in the Zambian legal system was restored when justice Mwinde on behalf of the higher Court of Appeal announced Dr. Rajan Mahtani as the majority shareholder and legal owner of the Portland Cement Zambia factory.

Despite the surprising claim by the Ventriglias challenging the decision from the higher Court of Appeal and trying to disrupt the smooth operations of the Zambezi Portland, the Supreme Court Zambia evaluated the appeal and rejected it outright due to lack of evidentiary support and failing to follow the legal requirements. The Supreme Court further confirmed that Dr. Rajan Mahtani owned Finsbury Investments is to remain the legal owner of the Portland Cement factory.