Case details for Nasir Mahmood Butt

Name: Nasir Mahmood Butt

Name: John Charnock Limited

Date of Birth: 2 / 8 / 1964

Date Order Starts: 1 / 2 / 2018

Disqualification Length: 7 Years 0 Month(s)

CRO Number: 00181191

Last Known Address: 77 Burlington Street,, , , , ASHTON-UNDER-LYNE,, OL6 7HJ

Conduct: Nasir Mahmood Butt (“Mr Butt”) failed to ensure that John Charnock Limited (“JCL”) maintained and/or preserved adequate accounting records, or in the alternative, he has failed to deliver up accounting records on behalf of JCL to the Liquidator for the period from his appointment on 05 November 2014 to Liquidation on 24 February 2016 (“the period”). As a result it has not been possible to ascertain or verify:

  • Whether all creditors at Liquidation totalling Ł429,276 were incurred during the period, and if they were, whether they were incurred for legitimate business purposes and benefit of JCL.
  • What happened to stock of at least Ł86,531 purchased by JCL during the period, if or how it has been disposed of or what became of any sales proceeds.
  • JCL’s total income and expenditure during the period. Statements for JCL’s sole known bank account for 24 February 2015 (date of first transaction) to 17 December 2015 (date of last transaction) only shows income of Ł20,709 and expenditure of Ł20,559.
  • The purpose of cash withdrawals made from JCL’s bank account totalling Ł9,170, and whether these were used for legitimate company expenditure.
  • The purpose of payments to third parties made from the company’s bank account totalling Ł6,420 and whether these were legitimate company expenditure.
  • The level of his remuneration from JCL or the validity of his claim in the Liquidation for Ł35,000.
  • The level of bad debts suffered by JCL, which he stated was ultimately responsible for the failure of JCL.
  • His failure to deliver up sales invoices to the Liquidator in respect of book debts declared as Ł42,000. As a result, the Liquidator has been unable to realise these book debts for the benefit of creditors. 

    This information is correct as at 21 / 5 / 2019



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