Case details for ASAB ALI



Date of Birth: 2 / 1 / 1975

Date Order Starts: 17 / 11 / 2023

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 11642035

Last Known Address: 19 Ullswater Close,, , , , BLACKBURN,, BB1 5LT

Conduct: On 13 May 2020 Asab Ali (“Mr Ali”) caused CINNAMON TAKEAWAY WARRINGTON LTD (“Cinnamon”) to obtain a Bounce Back Loan (“BBL”) of £45,000 using an overstated turnover figure, which resulted in Cinnamon obtaining a BBL that was more than it was entitled to. In that: Under the BBL scheme businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of its 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. Cinnamon was incorporated on 25 October 2018 and commenced trading in December 2018. On 13 May 2020, Cinnamon received a BBL of £45,000 after Mr Ali declared in the BBL application that the turnover for the calendar year 2019 was £180,000. Accounts for the year ended 31 October 2019 which covered the period from 25 October 2018 to 31 October 2019 disclosed a turnover of £76,154. Accounts for the year ended 31 October 2020 which covered the period from 01 November 2019 to 31 October 2020 disclosed a turnover of £48,729. As per bank analysis, Cinnamon received total credits of £81,704.28 in the calendar year 2019. By applying for a BBL of £45,000, Mr Ali caused Cinnamon to obtain more funds from the BBL scheme than entitled to. Total liabilities at liquidation amounted to £60,958 of which £45,000 relates to the amount owed in respect of the BBL. 

This information is correct as at 27 / 10 / 2023

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