Name: Ajmal Faizy

Name: LALA CAR HIRE LTD

Date of Birth: 3 / 9 / 1993

Date Order Starts: 24 / 12 / 2025

Disqualification Length: 10 Years  Month(s)

CRO Number: 11574685

Last Known Address: 66 Pringle Street, , , , BLACKBURN, BB1 1SA

Conduct: On 15 May 2020 Ajmal Faizy (“Mr Faizy”) caused Lala Car Hire Ltd (“Lala Car”) to apply and obtain make a Government Bounce Back Loan (“BBL”) for £50,000 using an overstated turnover figure which he knew or ought to have known was inaccurate and did not meet the terms of the scheme. As a result Lala Car received more funds than it was entitled to from the BBL scheme. In that: • Lala Car was incorporated on 18 September 2018 • A business could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of their turnover in the calendar year 2019. The turnover figure required was that for the calendar year 2019 or, where a business was established after 01 January 2019, it is the estimated annual turnover from the date the business was started. • Bank statements for 2019 show a turnover of £8,327. • On 15 May 2020 Mr Faizy applied for a BBL of £50,000 on behalf of Lala Car declaring a turnover figure of £200,000. • On 18 May 2020, BBL funds of £50,000 were paid into company’s bank account. • Based on the turnover figure of £8,327, Lala Car would have been entitled to a BBL of £2,082 • The overstatement of turnover on the BBL application meant that Lala Car received £47,918 more than it was entitled to from the BBL scheme. • On 04 December 2024, Lala Car entered Compulsory Liquidation with known liabilities of £98,214, of which £51,327 is owed in respect of the BBL. 

This information is correct as at 9 / 12 / 2025

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