Name: Azahruddin Usmanbhai Kasli

Name: Xchangefashion Ltd

Date of Birth: 15 / 1 / 1986

Date Order Starts: 6 / 11 / 2026

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 08524471

Last Known Address: 420 Coleman Road, , , , LEICESTER, LE5 4EF

Conduct: On 17 May 2020 Azahruddin Usmanbhai Kasli (“Mr Kasli”) caused Xchangefashion Ltd (“Xchange”) to breach the terms and conditions of the Bounce Back Loan (“BBL”) scheme by applying for a second BBL that Mr Kasli knew or ought to have known that Xchange was not entitled to, having previously caused Xchange to apply for and receive a BBL of £50,000 on 14 May 2020. Furthermore, BBL funds of at least £45,000 were not used to provide economic benefit to Xchange, in that: • Under the BBL scheme, businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of its turnover for the calendar year 2019. The turnover figure was self-certified by the applicant. The BBL scheme eligibility criteria allowed for businesses to only receive BBL funds of £50,000 maximum, with the applicant declaring that the company was not in the process of applying for, or had already received a BBL. • On 14 May 2020, Mr Kasli submitted a BBL application to Bank A on behalf of Xchange requesting a BBL of £50,000 and the BBL funds of £50,000 were paid into Xchange’s bank account on 15 May 2020. • On or around 17 May 2020, Mr Kasli made a second BBL application on behalf of Xchange to Bank B for a BBL of £50,000. The BBL funds of £50,000 were paid into Xchange’s bank account on 18 May 2020. • The maximum amount that a business could borrow under the BBL scheme was £50,000. • The terms of the BBL scheme stated that the BBL was to be used only to provide economic benefit to the business and would be used wholly for business purposes and not personal purposes. • On 20 May 2020, BBL monies totalling £45,000 were paid to Mr Kasli, which do not appear to have been utilised for the economic benefit of Xchange. • On 01 August 2025 when Xchange entered liquidation there were outstanding balances, including interest of £49,288 and £50,332 owed to Bank A and Bank B respectively. 

This information is correct as at 19 / 10 / 2026

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