As per the latest announcement made by the judge handling the Zambezi Portland Cement case at the Lusaka High Court, the case is nearing closure. This is extremely positive news for Dr. Rajan Mahtani and his team who have been fighting for the legal rights of the cement factory for more than 10 years. The fight was with the Ventriglias, the notorious Italian family who were accused of illegally and forcefully taking over the factory.
While the Ventriglias have taken over the factory, they also defended their act by claiming that Dr. Mahtani did not pay for the shares he owns at the Zambezi Portland Cement. However, they have not be able to submit relevant documents that support their claims. On the other hand, Dr. Rajan Mahtani has been continuously sharing relevant documents and proofs that support his rightful ownership over the factory. One of his strongest evidence was the signed shareholders agreement which was recently re-evaluated and accepted by the judge. According to this agreement, Dr. Mahtani owned Finsbury Investments holds 58 percent shares of the factory. This agreement has been co-signed by other shareholders of the factory. The agreement also states that the Ventriglias family members are only shareholder and do not have any partnership over the factory. This claim was further supported by an audit report carried out by an independent auditor. The report clearly states Dr. Mahtani as the sole joint venture partner. He has also shared numerous financial exhibits that showcase his investments worth more than USD 12 million for the growth and development of the factory.
It is hoped that the judge residing the case will finally give true justice for Dr. Mahtani’s patience by returning him his legally-owned factory.
While the Ventriglias have taken over the factory, they also defended their act by claiming that Dr. Mahtani did not pay for the shares he owns at the Zambezi Portland Cement. However, they have not be able to submit relevant documents that support their claims. On the other hand, Dr. Rajan Mahtani has been continuously sharing relevant documents and proofs that support his rightful ownership over the factory. One of his strongest evidence was the signed shareholders agreement which was recently re-evaluated and accepted by the judge. According to this agreement, Dr. Mahtani owned Finsbury Investments holds 58 percent shares of the factory. This agreement has been co-signed by other shareholders of the factory. The agreement also states that the Ventriglias family members are only shareholder and do not have any partnership over the factory. This claim was further supported by an audit report carried out by an independent auditor. The report clearly states Dr. Mahtani as the sole joint venture partner. He has also shared numerous financial exhibits that showcase his investments worth more than USD 12 million for the growth and development of the factory.
It is hoped that the judge residing the case will finally give true justice for Dr. Mahtani’s patience by returning him his legally-owned factory.