As per the latest information provided by the Lusaka High Court, the case hearing between Dr. Mahtani and the Ventriglias duo Antonio Ventriglia & his wife Manuela Ventriglia. This case is for the shareholding ownership of Zambezi Portland Cement, a premier cement manufacturing company in Zambia. As per the claims made by Dr. Rajan Mahtani, the Ventriglias have illegally captured the factory when he is the sole owner and joint-venture partner of the factory. The Ventriglias, on the other hand, have claimed that the shares invested by Dr. Mahtani in ZPC are not paid for. This case has been going in the court for more than nine years without any final decision.
To support their claims, Dr. Mahtani and his team have been constantly submitting various evidence. One such evidence that was re-examined and accepted by the court was the shareholder’s agreement signed by all related parties involved. This agreement clearly stated that Finsbury Investments held 58 percent ZPC shares while the Ventriglia Family together held 42 percent. Plenty of evidence and exhibits were submitted before the case confirming the Joint Venture nature of the project. Furthermore, a report prepared by an independent Auditor who conducted an audit on the ZPC clearly stared both parties have recognized the project as the joint venture and Dr. Mahtani as the sole joint venture owner as he holds the majority shares. Out of the USD 12 million availed by ZPC for various growth and developmental purposes, Finsbury Investments has provided USD 8 million. Not only this, the Paid-up share capitals of Zambezi Portland were given by Dr. Mahtani, amounting to extra USD 250,000.
All these evidence and factual datasheets clearly indicate that the real ownership of the factory goes to Dr. Mahtani. It is a time that the court also realizes the damage being done to the factory and based on fair judgment, hands over the factory to its real owner, Dr. Mahtani.