The Court of Appeal is among the highest civilian courts in Zambia. As a result, expectations were high from the court when the case of Portland Cement was established at the Court of Appeal by Dr. Rajan Mahtani. After failing to receive justice from the Lusaka High Court, despite a patient wait of ten years, Dr. Mahtani took an appropriate decision by approaching the higher Court of Appeal.
The judge at the Court of Appeal was justice Mwinde. This final decision from the Court of Appeal judge was given only after confirming with all other details, evidences, testimonials and facts. Interestingly, these very same details including the written and oral evidences were shared with the Lusaka High Court judge but were controversially ignored while giving the final decision
The final judgement from the Court of Appeal came on 31st January 2019. According to this decision, Dr. Rajan Lekhraj Mahtani who owns the Finsbury Investments paid a total sum of USD 250,000 for covering the entire share capital value of the Zambezi Portland Cement. This statement of confirmation was found within the original shareholders agreement established in the year 2007. This evidence from the Court of Appeal clearly states that Dr. Rajan Mahtani owned Finsbury Investments owned 58 percent shares of the factory after providing the entire sum of the share capital and did not have any remaining costs attached with the factory. Furthermore, the details of the agreement also confirmed that the other party, the Ventriglias, held only 42 percent total shares of the Portland Cement Zambia.
From this shareholding pattern and the confirmation of share transfers, it is evident that Dr. Rajan Lekhraj Mahtani is the actual owner of the Zambezi Portland Cement. Furthermore, judge Mwinde on behalf of the Court of Appeal also stated that all payments related to PTT (Property Transfer Tax) were to be borne by the transferor or the vendor.