On behalf of Finsbury Investments, Dr. Rajan Mahtani has pleaded the High Court of Lusaka to wind up the Zambezi Portland Cement. The Finance Bank Chairman was forced to take this action because the minority shareholder of the ZPC, the Ventriglia family had previously taken over the management of the company by force and had started their malpractices.
A petition was filed in the High Court of Lusaka on May 22, 2015 (Friday) by Dr. Rajan Mahtani which pleaded that winding up of ZPC was ‘Just and Equitable’. The petition also included serious concern for the workers of the ZPC who are constantly suffering in the hands of the Ventriglias.
Though the winding up process will include the involvement of a mediator, it has been expressively stated that the mediator would be appointed on the preference of both the parties. The step has been taken with a view to ensure that the proceeding takes place in an unbiased manner and no party is put to undue advantage. Below is a copy of the petition which was filed under cause number 2015/HPC/0225.
