The case of shareholders dispute of Zambezi Portland Cement has been going on for a long time now. It is between Finsbury Investments Limited Owner Dr. Rajan Mahtani and Ital Terrazzo Limited owner the Ventriglias. In this case, Dr. Rajan Mahtani has claimed ownership of the factory which has been taken over by force by the Ventriglias. The defendants, on the other hand, have established counter-claim by claiming that they are the real owners of the Zambezi Portland as the shares by Dr. Mahtani are not paid.
As per various shareholder agreements, exhibits and statements, it is clear that Finsbury Investments holds 58 percent shares in the Zambezi Portland while the Ital Terrazzo Limited owns 42 percent shares. ITL is a privately owned company which all benefits going straight to the Ventriglias. Also, the company has not been able to establish itself with proper documents or undertaking. In such situation, the ownership of the cement factory under this organization is questionable. During the case proceedings, Finsbury Investments have been time and again producing factual data and evidence proving that they have the legal ownership on the factory. Dr. Mahtani is the sole joint venture partner and with largest share percentage, he automatically becomes the owner. Furthermore, allegations such as arm twisting a shareholder or giving the 42 percentage shares to Ventriglias as a gift has been dismissed with proper evidentiary support. However, justice has been delayed time and again due to various reasons, sometimes even intentional.
The judge handling the case finally concluded the case gearing. However, both parties are yet to submit their oral and written submissions and the final date for these submissions is till December 2017. After looking into these submissions, the judge will provide a final date for judgement. This delay in providing judgement has been the most impactful to the workers and employees of the factory, who have seen constant downfall of the factory since its takeover by the Ventriglias.