Name: Ayaz  Shaukat

Name: BAE-BY LTD

Date of Birth: 21 / 9 / 1988

Date Order Starts: 27 / 1 / 2025

Disqualification Length: 8 years Years 0 Month(s)

CRO Number: 12421211

Last Known Address: 67 Normandy Crescent,, , , , OXFORD,, OX4 2TQ

Conduct: On 12 May 2020, Mr Ayaz Shaukat (“Mr Shaukat”), caused Bae-By Ltd (“Bae-By”) to breach the terms and conditions of the Bounce Back Loan (“BBL”) scheme by overestimating its turnover on the BBL application, as a result Bae-By received more funds than it was entitled to from the BBL scheme. 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, it was their estimated turnover.   • Businesses established after 01 January 2019 should have applied the 25% limit to its estimated annual turnover from the date the business was started.  • Bae-By was incorporated on 23 January 2020. • A bank account was opened for Bae-By on 18 February 2020. • On 12 May 2020, Mr Shaukat, on behalf of Bae-By, made a BBL application for £50,000, declaring that its estimated turnover was £220,000. • On 13 May 2020, Bae-By received the BBL funds of £50,000, into its bank account. • Bae-By’s bank statements show that there was no trading income prior to the date of the BBL application on 12 May 2020 or in its first year following incorporation. • Bae-By was therefore not entitled to a BBL of any amount. • Mr Shaukat has not provided any documentary evidence to show what the estimated turnover figure was based on or that Bae-By was entitled to apply for a BBL of £50,000. • On 25 April 2023, Bae-By entered Creditor’s Voluntary Liquidation with total liabilities of £48,826.74, of which £46,126.74 was owed in respect of the BBL. 

This information is correct as at 7 / 1 / 2025

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