The most recent judgment by Court of Appeal judge made things identified with Portland Cement much clearer. The unethical demonstrations of the scandalous Italian family Ventriglias have been thumped down and the Court of Appeal has ruled an ultimate conclusion for Zambezi Portland Cement. This choice went ahead 31st January2019 when the judge at the Court of Appeal turned around the judgment by Lusaka High Court judge which had before declared that the Ventriglias were only shareholders of Zambezi Portland Cement. Be that as it may, according to the new judgment, this isn’t the situation and the choice given by the Lusaka High Court judge was illegal.
Numerous information were shared by the Court of Appeal amid this judgment which isolated reality from the different falsehoods advised to general society and the court for an extensive stretch of time. According to the Court of Appeal’s judgment, Finsbury Investment Limited has paid a measure of pre-rebased K580, 000, 000 to High Court of Zambia as Commercial Registry and interest according to the consistence of the judgment. In the meantime, Finsbury Investments have likewise asserted K1 Billion with interest on the Zambezi Portland for instalment given on 27th July 2005. This sum was paid on whole by Zambezi Portland for increasing whole offer capital for Zambezi Portland. In view of the affirmation given by Court of Appeal, share exchanges were made amid December 2006 and January 2007. These offer exchanges were substantial and subsequently 58 percent shares at the Zambezi Portland were given to Finsbury Investment. In the meantime, Ital Terrazzo Limited which is claimed by the Ventriglias holds 42 percent shares and is just minority investor of Zambezi Portland.
Rajan Mahtani News 