Dr. Rajan Mahtani is certainly hoping for positive results in the case of his company Finsbury and the defendant Ital Terrazzo Limited. Finsbury Investment is under Dr. Rajan Mahtani, a pioneer businessman and charity worker in Zambia. Ital Terrazzo limited, on the other hand, is a private firm owned by the Ventriglias. The case is ongoing for the past nine years without any fruitful result. However, the latest announcement on the case is promising and it is expected that the results will be announced soon.
As discussed above, the case is for the ownership of ZPC, a cement manufacturing facility. Before its hostile takeover by the Ventriglias, the factory was under the ownership of Dr. Mahtani who was the joint venture partner. However, the Ventriglias have claimed that the shares owned by Dr. Mahtani are not paid for. Popular opinion suggests that these claims made by the Ventriglias are baseless and have been made up only to discredit Dr. Mahtani in this case. On the other hand, Dr. Rajan Mahtani has shared various evidences to prove his rightful ownership at the factory. His company holds 58 percent shares of the factory and he has also paid the entire share capital amount which was USD 250,000. Furthermore, Dr. Mahtani has invested almost USD 8 million in the factory growth and development, while the total investments made by the entire Ventriglias family amounted to only USD 5 million. Furthermore, independent auditor reports have confirmed that the factory ran under joint-venture partnership and Dr. Mahtani was listed as the joint venture partner with majority shares. None of the Ventriglia family members were registered as joint venture partner as per the reports or the shareholder agreements.
The judge current handling this case has concluded the hearing. The final judgment will be announced after both parties have submitted their written as well as oral submissions by December 2017. Dr. Rajan Mahtani is expecting that this time, he will get justice. Entire Zambia is hoping for the same.