Name: Muhammed Ishtiaque

Name: TAQ CAR LIMITED

Date of Birth: 15 / 8 / 1982

Date Order Starts: 13 / 11 / 2025

Disqualification Length: 11 Years  Month(s)

CRO Number: 12300456

Last Known Address: 342 Rose Lane,, , , , ROMFORD,, RM6 5UQ

Conduct: On 24 August 2020 Mr Muhammed Ishtiaque (“Mr Ishtiaque”) caused Taq Car Limited (“TCL”) to breach the terms and conditions of the Bounce Back Loan (“BBL”) by applying for a of BBL £48,750 that it was not eligible for, having obtained a previous BBL for £27,000 on 26 May 2020 from a different lender. Furthermore, Mr Ishtiaque caused TCL to misuse at least £69,803 of the BBL funds by failing to ensure the money was used for the economic benefit of the company, in that: • Under the BBL scheme, businesses could apply for a BBL of up to 25% of their 2019 turnover, from a minimum of £2,000 to a maximum of £50,000. Businesses incorporated after 01 January 2019 were asked to estimate their turnover from the date the business started. • TCL was incorporated on 06 November 2019. • On or around 26 May 2020, an application was made on behalf of TCL with Bank A for a BBL of £27,000. The BBL funds were paid into TCL’s bank account on 26 May 2020. • The BBL application with Bank A provided an estimated turnover figure of £110,000. However, accounts for the year ending 30 November 2021 show turnover for the years ending 30 November 2020 and 30 November 2021 to be nil and £5,826 respectively. • On 24 August 2020, Mr Ishtiaque made a further BBL application with Bank B for a BBL of £48,750 on behalf of TCL. The BBL funds were paid into TCL’s bank account on 26 August 2020. • The BBL application forms for both banks required the applicant to self-declare that they had not made any other application for a BBL for the business. Mr Ishtiaque falsely declared that TCL had not previously applied for a BBL with another lender. • Mr Ishtiaque knew or ought to have known that TCL was not entitled to the second BBL when the second application for the BBL was made and the funds were received. • Between 01 and 12 June 2020, £1,400 of the BBL from Bank A was withdrawn in cash. • Between 17 and 20 June 2020, £24,600 of the BBL from Bank A was transferred to Mr Ishtiaque. • Between 27 August 2020 and 13 February 2021, £20,491 of the BBL from Bank B was withdrawn in cash. • Between 04 October 2020 and 17 November 2020, £23,312 of the BBL from Bank B was transferred to third parties. • Mr Ishtiaque has failed to evidence that the above transactions were for the economic benefit of TCL. • TCL entered Creditors Voluntary Liquidation on 10 August 2023 with liabilities of £76,584, which consisted of the two BBLs. 

This information is correct as at 27 / 10 / 2025

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