Name: Billal Zulfaqar

Name: IGKM ELECTRONICS LIMITED

Date of Birth: 24 / 10 / 1990

Date Order Starts: 14 / 7 / 2026

Disqualification Length: 8 Years 0 Month(s)

CRO Number: 12378680

Last Known Address: 22 Trafalgar Street, , , , BATLEY, WF17 7HA

Conduct: On 30 September 2020, Mr Billal Zulfaqar (“Mr Zulfaqar”) breached the terms and conditions of the Bounce Back Loan (“BBL”) scheme by causing IGKM Electronics Limited (“IGKM”) to overestimate it’s turnover when applying for a BBL. As a result, IGKM received BBL funds totalling £48,000, when Mr Zulfaqar knew, or ought to have known, that IGKM was not eligible for that amount. 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 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 01 January 2019, an estimated annual turnover could be used from the date the business started. • IGKM was incorporated on 27 December 2019. • On 30 September 2020, Mr Zulfaqar applied for a £40,000 BBL on behalf of IGKM declaring that its estimated annual turnover from the date the business started was £350,000. IGKM received BBL funds of £40,000 the following day. • On 06 December 2020, Mr Zulfaqar applied for an £8,000 BBL Top-Up on behalf of IGKM. IGKM received BBL Top-Up funds of £8,000 the following day. • Unaudited financial statements for the financial years ending 31 December 2020 and 31 December 2021 show IGKM reported a turnover of £15,034 and £27,387 respectively. • Analysis of its bank accounts statements shows that between 17 May 2020 (the first trading income received) and 23 August 2020 (the last trading income received during 2020), IGKM received trading related income totalling £11,340.32. No further trading related income was received until 23 November 2021. • Based on £11,340.32 trading income received, an estimated annual turnover would have been £41,810.27, allowing IGKM to apply for a BBL of up to £10,452.57. • By overestimating its turnover, IGKM received £37,547.43 more than it was entitled to from the BBL scheme. • On 06 December 2024, IGKM entered Creditors’ Voluntary Liquidation with liabilities totalling at least £35,600, of which at least £35,403.12 was owed in respect of the BBL. 

This information is correct as at 7 / 8 / 2026

If you believe this page contains any errors, please email legalservices@insolvency.gov.uk with details of the error that you have found.