A 42-year-old Indian-born business manager who failed to accrue around £45,000 of the UK government’s COVID-19 business support loan has been banned from running a business for seven years.
Rupinder Kaur Thaker of Essex in South East England was appointed to the Board of Directors of TKML Limited in April 2016 upon incorporation of the company.
The UK Insolvency Service said questions remained about what TKML Limited did with the £45,000 recovery loan and whether the company would qualify for a loan of that size.
Beginning next Tuesday, Thaker is prohibited from being directly or indirectly involved in promoting, forming, or running any business without court authorization.
“Despite repeated requests for books and records, Rupinder Thaker has failed to provide the trustees with any evidence to help justify the company’s financial problems,” said the deputy head of the bankruptcy investigation. said Lawrence Zussman, author.
“In particular, a £45,000 stimulus loan to support a viable business during the pandemic. It provides a clear warning that this is a serious violation,” he said.
TKML Limited went into voluntary liquidation from its creditors in 2021 and has been investigated by the Bankruptcy Bureau due to the company’s bankruptcy.
Investigators first found some inconsistencies in the description Thaker provided when asked about the company.
TKML Limited’s entry in the company register indicated that the nature of the business was to-go and mobile food stalls, and that Thaker’s occupation was that of a publicist.
However, reports to creditors listed the company as a supplier of catering services and wedding decorations.
A further investigation found that between May 2019 and the company’s bankruptcy filing in June 2021, the company’s directors failed to maintain or maintain proper accounting records or to provide them to the trustees. It became clear.
This means investigators were unable to confirm some of the larger deals.
In addition to the loan, more than £250,000 was paid into the company’s bank account unaccounted for, leaving doubts over the accuracy of the £11,000 Thaker owes her and her affiliates.
Earlier this month, the UK Secretary of State for Business, Energy and Industrial Strategy, Kwasi Kwarten, objected to Rupinder Tucker’s “failure to ensure that TKML Limited kept and/or maintained appropriate accounting records”. accepted the promise of disqualification for seven years after failing to recite », or failing that, he failed to file proper accounting documents with the trustee.
An exclusion acknowledgment is equivalent to an administrative exclusion order, but does not require judicial proceedings.
Disqualified individuals are subject to various other restrictions on their work.
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