In a notice made available to the media, Mr Litana said Finsbury has not complied with the high court order for the company to pay the amount stated in Court of Appeal judgement of 31st January 2019.
Judge Mwinde Siavwapa ordered the appellant Finsbury Investment Limited Director Rajan Mahtani to pay the sum of K580 million within 90 days to the respondents Antonio Ventriglia and Manuela Sebastaini.
The said amount represents 580,000,000 shares transferred to the appellant representing 58% transfer of 1,000,000,000 share capital authorized by ZPC and allocated to the respondents at K1.00 per value per share.
Litana said until the Finsbury Investment Limited pays the said amount the only shareholders will remain Antonio Ventriglia and Manuela Sebastaini.
“This notice serves to inform the general public that Finsbury Investments Ltd had still not complied with the amount stated on the Judgement of the 31st January 2019.
“I therefore wish to state that until the current shareholder being Mr. Antonio Ventriglia and Mrs Manuela Sebastiani do not recieve the amount of K580,000,000 (Kwacha five hundred and eight million only) plus interest, Finsbury investment ltd shall not be a legal shareholder of Zambezi Portland Cement.”
Litana further advised Finsbury Investment to stop appointing what he termed as “purported interim CEOs”.
He added that the company should comply with the ruling as no one is above the law in the country.
“Finsbury Investment Ltd shall also refrain from appointing purported intrim CEOs at this point in time as this can only be done once it has complied with the payment. No one is above the law in Zambia,” he said
When will this drama end? Zambian Watchdog said Mahtani’ s Finbury had paid the money and Litana is now saying the opposite.
Mafias!! The Cartel…
Wonder why RB is not mentioned in this saga.
Mahtani is Money Launderer King of Zambia. Minute book was doctored by Joan Craven and signed by Late Steven Malama. Mahtani was arrested by KK, Chiluba and RB for money laundering and skimming Zambian businessmen and individuals alike. How Deputy governor at BOZ issued him and his co-accused Barkat Ali and Gupta of Zambia licence to operate a non-banking but deposit taking financial institution, when he knows very well the circumstances under which Finance Bank Malawi was closed (exchange control violations and externalising millions of dollars using copies of passports of Malawians without their knowledge?
Strange?????????
The money was paid in full. The Italians are just trying to draw undue sympathy from the court of public opinion.
Long live the drama series of ZPC
The twists between the Indian and Italian Mafia, bazimandola
Mathani Mathani and more drama of Mathani. This thug of India never learns. If he does not stop messing around, he will lose all his investments and might be imprisoned at his advanced sickly age.
He will run to London in his posh apartments like he always does …remember he has a British Passport…if he is arrested he will always play very sick…people like him never spend a day in prison!!
ZRA shall get involved in tax audit of zambezi portland cement, leasing finance and professional insurance to establish how much tax mahtani group companies have evaded resorting to transfer pricing? Margaret Mwanakatwe shall direct ZRA Transfer Pricing Unit to move in and lo and behold GRZ will get over i billion Kwacha for transfer pricing penalties for 10 years from his milling company, leasing company, insurance company, cement (during Kamanga’s short stint) and holding company with fake returns and conduit for bribery and economic crimes
Really laughable…so there is ZRA transfer unit ..how many billions of dollars have they captured?
Rajan Mahtani will not pay a cent of that….he is a crook will snake his way out of it like he has done..if this was a black Zambian they would eliminated or bankrupted them long time ago but he met his match fellow mafias.
We are now tired of both parties. Voyambana yambana lyonse
The money was paid into the Court on 6 Feb19
HE PAID 580 000 NOT 580 000 000. THE JUDGMENT AMOUNT WAS EBASED BY MAHTANI. 580 000 WILL GIVE HIM 580 000 SHARES OUT OF 1 BILLION SHARES MAKING HIM OWN 5.8% OF ZPC. MAHTANI IS BEING CLEVER AS USUAL.
Mr Litana is being mischievous
Mahtani again and again and again infinite.
Well, both parties are crooks. The Italians had an idea with no money. Mathan broke the law in getting the money to build the plant and then the Italians turned against him because he used dirty money to finance the project and it was difficult for Rajan to prove his investment…my thoughts
Why they bore us with this story time and again when this company is only private?