Case details for Bam Bahadur NEPALI

Name: Bam Bahadur NEPALI


Date of Birth: 21 / 3 / 1987

Date Order Starts: 3 / 11 / 2023

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 11447724

Last Known Address: 3 Whitgreave Street,, , , , WEST BROMWICH,, B70 9AS

Conduct: Bam Bahadur Nepali (“Mr Nepali”) caused Gurkha Sizzler Restaurant Limited (“GSR”) to make a Bounce Back Loan (“BBL”) application on 4 May 2020 of £38,000 and a Top Up Loan (“TUL”) application on 7 January 2021 of £12,000 using overstated turnover figures in the application forms, as a result GSR has received more money than it was entitled to from the BBL scheme. Further, the proceeds of the loan were not used in their entirety for the economic benefit of the business as required under the terms of the BBL scheme. In that: ?? GSR was incorporated on 4 July 2018.? Unaudited Financial Statements for Year Ending 31 July 2019 show turnover in that period as £70,216 and for Year Ending 31 July 2020 turnover of £63,216. Under the BBL and TUL 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.?In the applications GSR turnover was stated as £280,000 Analysis of the company bank account covering period 1 February 2019 to 31 December 2019, disclose turnover of £60,202. Taking an equal monthly amount covering this period the estimated turnover for January 2019 would be £5,473. Allowing for this, the turnover for period 1 January 2019 to 31 December 2019 is £65,675. This would have allowed for a BBL and TUL of £16,418. Therefore, GSR received £33,582 more than it was entitled to. On 5 May 2020 the initial BBL of £38,000 was paid into the company bank account and prior to this deposit, the balance was £837. Between 5 May 2020 and 15 June 2020 payments totalling £19,061 were deposited into the bank account and payments were made to Mr Napali totalling £44,000, not including his regular salary payments. £24,102 of these payments could not have been funded without the BBL monies and were not for the economic benefit of the company. On 11 January 2021 the TUL of £12,000 and prior to this deposit the balance was £451. Between 11 January 2021 and 14 January 2021 payments totalling £11,000 were made to Mr Napali of which at least £10,476 could not have been funded without the BBL monies and were not for the economic benefit of the company. Total liabilities at liquidation on 31 January 2022 amount to £63,216 of which £50,845 relates to the amount owed in respect of the BBL and Top Up Loan.? 

This information is correct as at 16 / 10 / 2023

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