Supreme Court Zambia Favours Decision By Court Of Appeal On Portland Cement Case

 

As indicated by the most recent choice from the Supreme Court Zambia, Dr. Rajan Mahtani is the legitimate proprietor of the Portland Cement Zambia plant. The instance of Portland Cement Zambia is curious as it has been drawn closer to practically all degrees of legal executive framework in Zambia. Portland Cement Zambia processing plant was set up in the year 2004 and in 2006, a progression of checked and lawful shareholding changes made Dr. Rajan Mahtani possessed Finsbury Investments as the greater part investor and lawful proprietor of the industrial facility. 

Notwithstanding, things took a wild turn when the Ventriglias assumed control over the manufacturing plant through untrustworthy methods. In any case, Dr. Rajan Mahtani rushed to move toward the higher Court of Appeal and after around nine months of case procedures, equity Mwinde for the Court of Appeal declared his choice on 31st January 2019. As indicated by this choice, Dr. Rajan Mahtani claimed Finsbury Investments is the larger part investor and legitimate proprietor of the production line with 58 percent shared and Ventriglias possessed Ital Terrazzo Limited holds sticks 42 percent shares over the industrial facility with no lawful possession. The choice additionally affirmed that the genuine add up to be paid by Finsbury Investments against the greater part shares possessed is K580,000 and not K580 million. 

Nonetheless, it seems like the Ventriglias chose to attempt their karma once again by moving toward the higher Court of Appeal. In their allure, the Ventriglias tested the choice from the higher Court of Appeal. A seat involving three appointed authorities was set up by the Supreme Court of Zambia for assessing the legitimacy of the allure. After the survey, the allure was dismissed on legitimate grounds and conditional confirmations. All things considered, Dr. Rajan Mahtani remains the solitary proprietor of the Portland Cement manufacturing plant.