Case details for Arbaz SAJJAD

Name: Arbaz SAJJAD


Date of Birth: 24 / 10 / 2000

Date Order Starts: 14 / 12 / 2022

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 11863732

Last Known Address: 39 Selkirk Avenue,, , , , OLDHAM,, OL8 4DQ

Conduct: On or around 01 June 2020 Arbaz Sajjad (“Mr Sajjad”) caused Ecstasy Vehicle Solutions Ltd (“EVS”) to falsely apply for a Bounce Back Loan (“BBL”) when it was not actively trading, and overstated the turnover of the company to enable it to apply for the maximum loan amount of £50,000. He also caused EVS to breach the terms of the BBL scheme as £45,169 of the BBL was paid to him personally and not used for the economic benefit of EVS and it would not be in a position to make timely repayments in the future. • Under the BBL scheme, businesses were able to apply for a BBL if they were engaged in trading or commercial activity in the UK at the date of the application, were carrying on business on 01 March 2020 and had been adversely affected by Covid. They were also required to confirm they had understood the costs associated with repayment of the loan and they were able and intended to complete timely repayments in the future. • Businesses incorporated after 1st January 2019 were asked to estimate their turnover. EVS was incorporated on 06 March 2019 and he declared a turnover of £210,000. • Between incorporation and the date of the BBL application receipts into EVS’s business bank account totalled £51,417, of which £45,242 were from either him personally or from associated companies. In the event that these receipts were legitimate business turnover, EVS would only have been entitled to a BBL of £12,854. • Between 18 October 2019 and 02 June 2020, the date the BBL funds were received, the only receipts into EVS’s bank account (other than cashback) were £462 paid in by him, indicating that EVS was not trading at 01 March 2020 nor at the date of the BBL application. • EVS received a BBL of £50,000 on 02 June 2020. • Between 03 June 2020 and 23 July 2020, a net total of £45,169 of the BBL was transferred to him. • EVS was compulsorily dissolved on 07 December 2021 and the BBL of £50,000 remains outstanding. 

This information is correct as at 24 / 11 / 2022

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