Case details for QADEER RASHID



Date of Birth: 5 / 6 / 1985

Date Order Starts: 23 / 12 / 2022

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 11102035

Last Known Address: 20b Hempson Avenue, , , , SLOUGH, SL3 7RW

Conduct: On 27 July 2020 Qadeer Rashid (“Mr Rashid”) caused Inflow Services Limited (“ISL”) to breach the conditions of the Bounce Back Loan ("BBL") facility by fraudulently applying for a BBL of £20,000 when he knew or ought to have known that ISL was not entitled to the loan having previously applied for and received a BBL of £50,000 on 5 May 2020: Under the BBL scheme businesses were able to apply for up to 25% of their turnover to a maximum of £50,000. Businesses which originally borrowed less than the maximum amount available to them under the Scheme were eligible to top-up their original loan, however the total loan amount was not to exceed 25%. Only one loan was available to businesses. Mr Rashid made an application for a BBL of £50,000 on behalf of ISL on 8 May 2020 declaring income of £320,000. Mr Rashid made a further BBL application of £20,000 on behalf of ISL on 27 July 2020. Mr Rashid signed the declaration on the application form and BBL agreement on 27 July 2020 confirming that ISL had not received any other bounce back loan and that he was the company director. On 28 July 2020 ISL received £20,000 from the BBL. Total liabilities at liquidation amount to £85,915 which include debts of £70,000 in respect of BBL, £15,000 to another bank and £915 to HMRC. 

This information is correct as at 7 / 12 / 2022

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