Zambezi Portland To Get Its Real Owner Soon, Confirms Court

The latest announcement made by the Lusaka High Court confirms the fact that Zambezi Portland will get its real owner soon. As per the information provided by the judge handling this case, the hearing for the case has been closed. The case is a long pending high profile case corporate case that has been going on for more than nine years. It was registered by Dr. Rajan Lekhraj Mahtani, a noted businessman in Zambia, against the Ventriglias who had illegally captured the Zambezi Portland Factory.


The major crust of this case is the shareholding and ownership of the factory. Both parties are claiming their ownership over this factory. After Dr. Mahtani launched the initial claim of Ventriglias taking over the factory forcefully, the latter launched a counter-claim. As per the Ventriglias, the shares of Dr. Mahtani in the factory are not paid for. However, the evidence and statements submitted by Dr. Mahtani and his team over the course of court proceedings tell a different story. Dr. Mahtani recently re-submitted the main shareholder’s agreement before the court. As per the agreement, Dr. Mahtani owned Finsbury Investments holds 58 percent shares in the factory. Rest of the shares are distributed among Ventriglias family and other shareholders. This evidence has been accepted by the court. Furthermore, Dr. Mahtani had previously asked an independent auditor to conduct an audit on the factory. As per this independent audit report, the factory was established as a joint-venture project with Dr. Mahtani as sole joint venture partner.

Both parties will soon submit their evidences to the court post evaluation of which, final judgment will be announced.
Location: Zambia

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