Name: Ahtisham Nawaz Chaudhry

Name: NATIONAL CARS LIMITED

Date of Birth: 22 / 7 / 1984

Date Order Starts: 31 / 10 / 2025

Disqualification Length: 10 Years  Month(s)

CRO Number: SC415162

Last Known Address: Flat 2/1, 180 Butterbiggins Road, , , , , G42 7AP

Conduct: Ahtisham Nawaz Chaudhry (“Mr Chaudhry”) caused National Cars Limited (“NCL”) to apply for and obtain a Government backed Bounce Back Loan (“BBL”) for the sum of £50,000 by declaring turnover on BBL application, he knew or ought to have known was overstated. Thereafter, in breach of the BBL scheme, the BBL was not used in its entirety for the economic benefit of the business of NCL, 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 is their estimated turnover. The applicant must use the funds for the economic benefit of the company; and not be used for personal benefit • NCL was incorporated on 23 January 2012 and filed dormant accounts from 2012 to 2017. • On 9 May 2020 Mr Chaudhry, on behalf of NCL the Company, applied for a BBL of £50,000; • the turnover of NCL was stated as £235,000 on the BBL application form; • Bank statements for the Company shows income of £16,473.60 for the calendar year 2019; • Annual accounts for the year ended 31 January 2020 shows turnover of £13,353; • Using the income figures from the Company bank statements Mr Chaudhry overstated the turnover and obtaining an additional £45,881.60 in BBL funding to which NCL was not entitled to. • On 11 May 2020 the sum of £50,000, being the BBL, was paid into the Company bank account. Prior to receipt of the BBL the balance of the Company bank account stood at £2.42 in credit; • Following receipt of the BBL: • On 13 May 2020 two transfers were made to an individual, totalling £10,000; • On 13 May 2020 three transfers were made to an unknown business or entity totalling £30,810.00; • On 14 May 2020 a transfer of £3,663.34 was made to a financial institution; • On 15 May 2020 a transfer of £5,526.83 was made to a second financial institution. • Mr Chaudhry has not provided evidence that the funds transferred were used for the benefit of the Company. • NCL made payments totalling £1,936.40 towards the BBL • NCL entered Creditors’ Voluntary Liquidation on 8 November 2023. • At liquidation a total of £50,417.10 was outstanding in respect of the BBL. 

This information is correct as at 13 / 10 / 2025

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