This case over ZPC ownership was appealed in the High Court in the year 2010 where the judge’s verdict favoured Antonio Ventriglia and Manuela Sebastiani Ventriglia. However, the Supreme Court judgement cancelled the verdict of High Court and said it was incorrect and irregular. Wanki annulled the injunction, which was made against Rajan Mahtani and other board of directors of Zambezi Portland Cement.
According to Antonio Ventrigila Dr. Mahtani changed the shareholding of the cement manufacturing firm, which Antonio owned, without taking any consent from him or Manuela Sebastiani Ventriglia. But this wasn’t the real scenario, which the Supreme Court realized and so the decision went in favour of him. The Supreme Court judge Wanki before 3 other Supreme Court judges Chibomba, Chibesakunda and Mwanamwamba accepted that Zambezi Portland Cement belonged to Mahtani Group of Companies and recognized Finsbury’s interest in ZPC.
Mahtani Group of Companies chairman, Dr Mahtani, claimed that he had interest to appoint Timothy Mushibwe, the receiver for the firm because Finsbury Investment, which is his firm, had guaranteed the loan ZPC got from PTA and that if ZPC collapsed, Finsbury Investment would be liable for payment of debt.
The Lusaka High Court on January 8, 2013 threw out Dr Mahtani’s application for the appointment of Timothy Mushibwe, the receiver, in an act that would have given him the control of ZPC. The judge Chishimba described as unsubstantiated and speculative Mahtani’s claims that the business was in danger of collapsing as the owners has been deported by the government. The judge noted that his claims to shares in the firm was in dispute and couldn’t therefore be legitimized by an order that implied he had such interest. The owners of the company, she said, had made adequate management and administrative arrangements to allow the firm continue running.