Case details for Tamjida RASHID

Name: Tamjida RASHID

Name: Midas Management Company Limited

Date of Birth: 17 / 1 / 1970

Date Order Starts: 10 / 6 / 2022

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 11432676

Last Known Address: 113 Haynes Road,, , , , HORNCHURCH,, RM11 2HX

Conduct: Ms Tamjida Rashid (‘Ms Rashid’) caused Midas Management Company Ltd (‘MMC’) to obtain a Government-backed bounce back loan (‘BBL’) of £35,000 for which it was not eligible, by providing false or knowingly inaccurate information to the bank. In addition, she did not .use the entirety of the monies obtained for the economic benefit of MMC, contrary to the terms of the loan. These actions constitute a misuse of the Covid business support finance scheme. In that: MMC obtained a BBL of £35,000 by stating that its turnover in 2019 was £155,000; Bank statements disclose total income of £35,040 in 2019; The loan was received on 27 May 2020; On 20 July 2020 £23,000 was transferred to Mrs Rashid, which she has stated was to reimburse her for payments that she had made personally in respect of MMC’s expenditure; The use of BBL moneys to repay personal loans to a business is contrary to the intended purpose of the scheme; At the date of the liquidation the only creditor was the bank for the BBL. 

This information is correct as at 20 / 5 / 2022

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