Court orders transfer of K14m to Zambezi Portland


THE Ndola High Court has ordered the transfer of K14 million from accounts held by Leasing Finance Company and Finance Bank to Zambezi Portland Cement accounts following an application by Antonio Ventriglia.


According to an ex parte order for an interim injunction granted to Zambezi Portland Cement on July 23, 2015, the court has ordered that the defendants should transfer money from the different accounts at First Alliance Bank and Finance Bank to the plaintiff’s account held at First Alliance Bank.


In the matter between Zambezi Portland Cement and Leasing Finance Company, Finance Bank, Finsbury Investments, Peter Kanaganayam and Rajan Mahtani as first, second, third, fourth and fifth defendants, the court has ruled that a total of K14,202,638.68 be transferred to the plaintiff’s account.


The court has ordered that the defendants be compelled to transfer money held in the first and second defendants’ accounts to the plaintiff’s accounts until determination of the application for interlocutory injunction.


“You the within mentioned defendant if you disobey and/or your servants, agents or whomsoever disobey this order, you will be cited for contempt and liable to imprisonment,” reads the penal notice.