Case details for Paramesh DAS

Name: Paramesh DAS


Date of Birth: 1 / 12 / 1985

Date Order Starts: 21 / 11 / 2022

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 10294235

Last Known Address: Mill Hill Tandoori,, 2 The Broadway,, , , LONDON,, NW7 3LL

Conduct: a) On 26 August 2020 Paramesh Das (“Mr Das”) caused Starlink Euro-UK Limited (the Company”) to apply for and obtain a Government backed Bounce Back Loan (“BBL”) totalling £50,000. The application was contrary to the eligibility terms and the Company did not use it in its entirety for the economic benefit of the business, contrary to the terms of the BBL. In that: Application for BBL • prior to 26 August 2020 he applied to Barclays Bank via their online system for a BBL which was credited to the Company’s bank account on 26 August 2020; • the last filed accounts as at 31 July 2019 show turnover of £155,399 and accumulated losses of £74,090 resulting in negative equity of £73,990, contrary to the eligibility requirements for a BBL • The Company’s turnover, either in the last accounts or through moneys placed in the company bank accounts from 1 August 2019 (totalling £121,398) did not reach the threshold of £200,000 for seeking a bounce back loan of £50,000; Use of BBL funds • on or around 09 October 2020, the Company commenced transferring the income received from Just Eat to an unknown Company and by the end of October 2020 credits from the sale of food were no longer being paid into the Company’s bank account; • on 16 October 2020 the Company paid the sum of £10,500 to AIC Investments Ltd (“AIC”) and a further £10,500 was paid to AIC on 30 October 2020. AIC is the landlord of the restaurant building and this sum exceeded the usual rent paid to AIC; • on 02 November 2020 the Company paid the sum of £13,000 to AWJ Assets and a further sum of £13,000 was paid to AWJ on 06 November 2020, both sums for the payment of improvements to the Company’s premises. AWJ is a company which was under the ownership of the Company’s landlord, AIC and these payments were not for the benefit the Company which had, in effect and reality, ceased trading; • the Statement of Affairs as at 07 May 2021 refers to improvements in premises amounting to £20,699 as an asset of the Company. No sum has been repaid in the liquidation and a successor business, Thai n Pie, is still trading at these premises under a different name having benefitted from the improvements. B) He caused the Company to receive business grants totalling £29,221 from the local Council after trading had ceased and he had paid fees for an intended liquidation. From 18 February 2021 he caused the dissipation of the moneys by way of paying existing and future rent and cash extractions. These transactions were in anticipation of the winding-up and were to the detriment of the local council and benefit of entities other than the Company. In that: • On 28 January 2021, having met with Panos Eliades Franklin (“the Liquidator”), the decision was taken to place the Company into liquidation and the sum of £6,000 was paid to the Liquidator by the Company to cover their fees. At this time the Company should have ceased all operations and/or transactions; • between 18 February 2021 and 22 April 2021 business grants were received by the Company from London Borough of Tower Hamlets totalling £29,221.57; • between 19 February and 24 February 2021 the sum of £13,950 was withdrawn from the Company’s bank account in cash; • on 29 April 2021 a cheque in the sum of £13,500 payable to AIC was paid to cover rent of the restaurant after the Company has ceased to trade. 

This information is correct as at 31 / 10 / 2022

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