Case details for Salman Hameed

Name: Salman Hameed


Date of Birth: 18 / 10 / 1974

Date Order Starts: 25 / 5 / 2022

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 08065057

Last Known Address: Flat 14, Renaissance,, 50-52 High Street,, , , ADDLESTONE,, KT15 1TR

Conduct: On 17 May 2020 Mr Hameed caused Technical World Limited (“the Company”) to obtain a government backed Bounce Back Loan (“BBL”) totalling £50,000 by submitting false or knowingly inaccurate information. Thereafter, in breach of the BBL scheme, Mr Hameed failed to use the BBL for the economic benefit of the business by transferring it to his personal bank account. In that: On 17 May 2020 Mr Hameed submitted an application to the bank for a BBL in the sum of £50,000. Within the BBL application Mr Hameed declared that the Company’s estimated turnover was £200,000. Financial statements prepared by the Company’s accountants for the years ended 31 May 2018 and 2019 show that the turnover in those years was £35,591 and £10,315 respectively. Within the BBL application Mr Hameed declared that the Company was not insolvent or otherwise in difficulty on 31 December 2019. In his questionnaire dated 11 November 2021 Mr Hameed stated that the Company was suffering with low or negative profits, and that the Company was already in loss from 2019 to 2021. Within the BBL application Mr Hameed declared that the BBL would not (in whole or in part) be used to support export related activities. In Mr Hameed’s questionnaire dated 11 November 2021 he stated that the BBL was to be used to rebuild the Company as he had decided to import and export carpets and rugs. On 19 May 2020 the sum of £50,000, being the BBL, was paid into the Company’s bank account. Prior to receipt of the loan the account balance was overdrawn in the sum of £45.02. On 19 May 2020 Mr Hameed transferred the sum of £47,500 into his personal bank account. Mr Hameed states that the £47,500 was given in cash to a friend who was visiting from Pakistan so that he could take the cash to Mr Hameed’s cousin in Pakistan to buy rugs and carpets and that Mr Hameed has no proof of this money transfer. At liquidation on 13 April 2021, the Company’s only creditor was the bank for £50,000 for the BBL, which remains unpaid. 

This information is correct as at 5 / 5 / 2022

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