Even though there have been many improvements in the Zambian economy, conspiracies and unethical activities continue to hinder the development process by the government as well as those individuals trying to establish a positive economy. A similar situation can be seen in the case between Finsbury Investments Limited and the Ventriglias. The case was launched in terms of ownership of Zambezi Portland Cement, a noted cement factory in Zambia. It was launched at the Lusaka High Court almost 10 years back and it is still continuing. Recently, a milestone was achieved when the judge announced that the case has been concluded. However, final date for judgement is yet to be given by the court.
Some of the established facts as per the case are that 58 percent share of ZPC are held by Finsbury Investments which is owned by Dr. Rajan Mahtani and the rest is owned by Ital Terrazzo. The Ventriglias own this company solely & beneficially. Also, the claim of 58 percent shares by Dr. Rajan Mahtani is confirmed by shareholder agreement and the signatures by all relevant parties’ dates 26th February 2007. Furthermore, Dr. Rajan Mahtani has also established the claim that the entire capital share of ZPC which amounts to USD 250 thousand dollars has been paid by him with no monetary contribution from the Ventriglias. Also, the 42 percent shares that the Ventriglias hold were not given as gift and the factory project was a complete Joint Venture. Just like other claims, this claim of Dr. Rajan Mahtani was also supported by various exhibits as evidence.
While the evidence and facts are clearly supporting Dr. Rajan Mahtani’s side, it is yet to guess who will ultimately win the ownership of the cement factory. This is especially due to the fact that in spite of having such strong documents, Dr. Mahtani is still waiting on this case to win the case in a rightful manner.