Name: Asma Nadim

Name: IFS TRADING LIMITED

Date of Birth: 1 / 8 / 1978

Date Order Starts: 14 / 2 / 2025

Disqualification Length: 11 years Years 0 Month(s)

CRO Number: SC486567

Last Known Address: 1/2 9 Ardbeg Street,, , , , GLASGOW,, G42 7JJ

Conduct: In June 2020 Asma Nadim (Mrs Nadim) caused IFS Trading Limited (“IFS”) to apply for a Bounce Back Loan (BBL) of £50,000 using overstated turnover figures in the application form and as a result ITL has received BBL funds that it was not entitled to, in that: • A business could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover in calendar year 2019 or where a business was established after 1 January 2019, it is their estimated turnover. • IFS was incorporated on 12 September 2014. • Mrs Nadim applied for and obtained a BBL of £50,000 in June 2020 and stated the annual turnover for IFS was £250,000. • On 23 June 2020 the BBL of £50,000 was deposited into the company bank account of IFS. • No company accounts are available for periods up to Year Ended 30 September 2019 and 30 September 2020. • The company bank account statements disclose that from 6 January 2019 to 24 December 2019 trade/sales activity of £803. • The bank statements also show for the following 12-month period from 23 June 2020, being the date after the BBL funds were deposited into the company bank account to 22 June 2021 trade/sales of approximately £1,046. • Mrs Nadim has provided no clear evidence of how the turnover figure of £250,000 was determined. • On 31 March 2023, IFS entered Creditors Voluntary Liquidation with known liabilities of £46,577 which is owed in respect of the BBL. 

This information is correct as at 24 / 1 / 2025

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