Case details for Sarmad Mohammed Ali Dara

Name: Sarmad Mohammed Ali Dara


Date of Birth: 21 / 11 / 1982

Date Order Starts: 24 / 1 / 2023

Disqualification Length: 7 Years 0 Month(s)

CRO Number: 11319136

Last Known Address: 34 Ellerslie Gardens, , , , LONDON, NW10 3TB

Conduct: On 30 May 2020, Sarmad Mohammed Ali Dara (“Mr Dara”) caused Sarmad Dara Limited (“SDL”) to breach the conditions of the Bounce Back Loan (“BBL”) scheme by applying funds totalling £43,750, obtained under the BBL scheme for his personal benefit and not for the economic benefit of SDL. In that: • On 15 May 2020, the director applied for a BBL in the sum of £43,750 that was subsequently credited to the Company’s bank account on 22 May 2022. • On 30 May 2022, the sum of £50,000 was transferred to the director’s personal account. • No explanation or proof has been provided by the director to show that the BBL proceeds were used for the economic benefit of the underlying business and was therefore contrary to the purpose of the BBL support scheme. • The Company failed to make a single repayment in respect of the outstanding BBL. Failure to maintain and deliver up adequate books and records Mr Dara failed to ensure that SDL maintained and / or preserved adequate accounting records, or in the alternative has failed to deliver up such records to the Liquidator. As a result of the failure to maintain, preserve and or deliver up adequate records, it is not possible to verify; • Details of the payroll records for the two employees on a month-by-month basis ensuring the right amount of tax that may have been payable. • What the monthly entry to Sainsbury’s bank for £739.45 related to • An explanation as to what the cash withdrawals of £8,029 for the year ending 30/04/20 and £5,059 for the year ending 30/04/21 relate to; • The actual amount outstanding on the director’s loan account. 

This information is correct as at 3 / 1 / 2023

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