The shareholders’ battle for the multi million dollars Ndola based cement plant is inreasingly becoming desperate. The shareholders are currently in Court fighting over control and ownership of the cement plant amidst several Court actions commenced both in Lusaka and Ndola for about 8 years now. ZWD detailed investigations reveal:-
The status quo remains that Finsbury Investments Ltd owns 58% of the shareholding whilst Ital Terazzo Ltd (In Receivership) owns 42% of the shareholding. The Chairman of the Board of Directors is Dr. Rajan Mahtani.
The Court cases are proving not to be easy for the Ventriglias (Italian Mafias) who last week resorted to abuse of Government machinery. A Call Out was issued against Dr. Mahtani in relation to the shareholding of ZPC which is a civil matter and sub-judice. The ardent followers of the issues surrounding the shareholding of ZPC will immediately realise that this is not a novel issue or indeed one that requires science precision. In 2010, the Italians under the Leadership of His Excellency Mr. Rupiah Bwezani Banda abused Government machinery to fight their legal battles. The Zambia Police Service, Drug Enforcement Commission, Anti Corruption Commission, Bank of Zambia and the Judiciary were amongst some of the notable institutions that were abused.
Based on fabricated evidence, Dr. Mahtani was charged and prosecuted on various offences. However, in 2011 the Director of Public Prosecutions (DPP) Mr. Chalwe Mchenga SC entered some Nolle Prosequi in some of the matters before ascending to the Bench. Upon taking over as DPP, Mr. Mutembo Nchito SC picked up from where his predecessor had left and entered nolles too.