The recent news given by the judge handling the case of Zambezi Portand Cement is indeed good for Dr. Rajan Mahtani and his. He has been waiting for almost ten years to hear similar news. As per the information, the judge has concluded the case hearing and has asked both parties to submit their evidences and statements in written and oral format by December 2017. This time, there is no way for the Ventriglias to escape their judgment. In the last few years, they have been successfully avoiding court time whenever they were asked to submit their evidences.
The case started almost 10 years ago, when Dr. Mahtani claimed that his factory Zambezi Portland Cement was taken over by the Ventriglias. At the same time, the Ventriglias launched a counter claim that Dr. Mahtani is yet to pay for the shares he owns at ZPC. However, the facts say otherwise. According to the financial exhibits which are signed by important parties, Dr. Mahtani has paid more than USD 8 million dollars in the factory apart from paying the entire amount of share capital. Furthermore, signed shareholder’s agreement clearly indicate that he holds 58 percent shares at the factory and the rests are owned by the Ventriglias family and other members. This alone gives Dr. Mahtani the majority share holding. Another critical evidence submitted is the auditor’s report prepared by an independent auditor. As per this audit report, Dr. Mahtani is the sole joint venture partner of the Zambezi Portland Project which was started as Joint Venture.
Final judgment is expected soon.
The case started almost 10 years ago, when Dr. Mahtani claimed that his factory Zambezi Portland Cement was taken over by the Ventriglias. At the same time, the Ventriglias launched a counter claim that Dr. Mahtani is yet to pay for the shares he owns at ZPC. However, the facts say otherwise. According to the financial exhibits which are signed by important parties, Dr. Mahtani has paid more than USD 8 million dollars in the factory apart from paying the entire amount of share capital. Furthermore, signed shareholder’s agreement clearly indicate that he holds 58 percent shares at the factory and the rests are owned by the Ventriglias family and other members. This alone gives Dr. Mahtani the majority share holding. Another critical evidence submitted is the auditor’s report prepared by an independent auditor. As per this audit report, Dr. Mahtani is the sole joint venture partner of the Zambezi Portland Project which was started as Joint Venture.
Final judgment is expected soon.