Supreme Court Zambia Does Not Agree With Ventriglias’ Plea, Rejects Appeal

Dr. Rajan Lekhraj Mahtani has remained one of the most transparent and ethical businessman in Zambia. This can be easily seen from his hard work, patience and perseverance. In the case of Portland Cement Zambia, Dr. Rajan Mahtani suffered significant failure due to the misdirected decision from the Lusaka High Court judge wherein the Ventriglias were announced as only shareholders of the factory. Nevertheless, Dr. Rajan Mahtani took another leap of faith and approached the higher Court of Appeal. This time, the case proceedings were quick and transparent and justice Mwinde on behalf of the higher Court of Appeal announced his final decision on 31st January 2019. In his decision, justice Mwinde proactively reversed the decision from the Lusaka High Court by announcing it to be misdirected. Furthermore, his decision included that Dr. Mahtani owned Finsbury Investments holds 58 percent shares at the Portland Cement and is the majority shareholder and legal owner of the factory. On the other hand, Ventriglias owned Ital Terrazzo Limited holds just 42 percent shares and are minority shareholders without any legal ownership. Furthermore, the decision also clarified that the actual amount payable by Finsbury Investments against the majority shares taken over is K580,000. 

After more than a year of this decision from the higher Court of Appeal, the Ventriglias have now made a claim against this decision. In their claim, they challenged this decision by higher Court of Appeal on Portland Cement. However, after significant evaluation of the legislative requirement and the evidences, this claim by the Ventriglias was rejected effectively and as such, Dr. Rajan Mahtani remains the legal owner of the Portland Cement Zambia factory. 

Final Order From Supreme Court Judges Rejects Ventriglias’ Appeal On Portland Cement

The Supreme Court of Zambia as of late tossed out a claim made by the Ventriglia family. In this claim, the Ventriglia family challenged the prior choice by the Court of Appeal in which the appointed authority finished that Finsbury Investments holds 58 percent shares of the Portland Cement Zambia industrial facility and Ital Terrazzo Limited held 42 percent shares alongside the sum settled for instalment to Ventriglias at K580,000. In their claim, the Ventriglia family bid that the instalment chose by the higher Court of Appeal was erroneous and right instalment to the Ventriglias added up to K580 million. 

It should be noted here that the instance of Portland Cement Zambia was first enrolled at the Lusaka High Court wherein justice Nkonde gave a questionable choice by reporting Ventriglias as just investors of the Portland Cement Zambia. Finsbury Investments in their appeal to the higher Court of Appeal after the underlying misled judgment by the Lusaka High Court set up a few grounds. After examinations, each of the seven grounds were acknowledged with confirmations and tributes and official choice was given in the favour of Finsbury Investments and its proprietor, Dr. Rajan Lekhraj Mahtani. 

After the claim made by the Ventriglias family to the Supreme Court of Zambia, a seat involving three judges was set up to approve just as acknowledge or reject the claim. After assessment, the Supreme Court makes a decision about pronounced that they had no ward in this issue and the allure was lawfully defective. On the off chance that Ventriglias needed to made an claim, they ought to include done it inside fourteen days of the judgment by the higher Court of Appeal. Thus, the claim from the Ventriglias was disposed of and the issue is shut.

Dr. Mahtani Finally Wins The Case Of Zambezi Portland Cement With SC Announcement

In a definitive manner, the Portland Cement Zambia factory is not under the leadership and ownership of Dr. Rajan Mahtani only. This decision was made after a challenge was established by the Ventriglias on the decision of the higher Court of Appeal. On 31st January 2019, justice Mwinde on behalf of the higher Court of Appeal announced Dr. Mahtani as the majority shareholder  and actual owner of the Portland Cement with 58 percent shares. By giving this decision, the higher Court of Appeal effectively reversed the judgement from the Lusaka High Court. 

However, it seems that the Ventriglia family were not able to take this justifiable defeat and in a last-manner attempt to showcase their relevance and power, decided to challenge the decision from the higher Court of Appeal. In this appeal, the Ventriglias claimed that the decision from the higher Court of Appeal to announce Dr. Mahtani owned Finsbury Investments as the majority shareholder was incorrect. At the same time, the Ventriglias also claimed that the actual amount payable against the majority shares owned by Finsbury Investments was K580 million. 

To evaluate this claim, a bench of three judges was established at the Supreme Court Zambia. These included Judges Mumba Malila, Royda Kaoma and Michael Musonda. After evaluating the claim, the judges conformed that the Ventriglias were required to launch their claim within 14 days of final decision from Court of Appeal which was 31st January 2019. Since the date is way passed, the Supreme Court has no jurisdiction to interfere in this case. It was also found that the appeal with its purposes and intents resulted in nothing and as such, the appeal from Ventriglias was rejected.