Case details for Amjad Farooq

Name: Amjad Farooq


Date of Birth: 11 / 6 / 1960

Date Order Starts: 30 / 11 / 2023

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 10565888

Last Known Address: 4 CENTRAL PLACE, CLAYTON, , , BRADFORD, BD14 6AZ

Conduct: On 10 July 2020 Amjad Farooq (“Mr Farooq”) caused AF BEAUTY SERVICES LIMITED (“AF Beauty”) to apply for a Bounce Back Loan (“BBL”) of £50,000 using overstated turnover figures, which resulted in AF Beauty obtaining a BBL that was at least £27,413 more than it was entitled to in breach of the BBL terms and conditions. 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 turnover. The turnover figure was self-certified by the applicant. The turnover figure required was that for the calendar year 2019 or where a business was established after 1 January 2019 it is their estimated turnover. • AF Beauty was incorporated 16 January 2017. • On 10 July 2020 Mr Farooq applied for a BBL of £50,000 on behalf of AF Beauty declaring that its turnover for the calendar year 2019 was £225,000. • AF Beauty’s financial accounts year ending 31 January 2019 show that its turnover was £83,808. • AF Beauty’s financial Statements covering period between February 2019 to June 2020 show that its turnover was £90,351. Based on this turnover, the most AF Beauty was entitled to in BBL funds was £22,587. • AF Beauty received the BBL funds of £50,000 on 15 July 2020. By overstating the turnover, Mr Farooq caused AF Beauty to receive £27,413 more than it was entitled to. • Total liabilities at liquidation amount to £86,100 of which £50,000 relates to the amount owed in respect of the BBL. 

This information is correct as at 9 / 11 / 2023

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