Case details for Tarun Khadiya

Name: Tarun Khadiya

Name: GLASGOWDREAM LIMITED

Date of Birth: 4 / 4 / 1980

Date Order Starts: 12 / 4 / 2022

Disqualification Length: 6 Years 0 Month(s)

CRO Number: SC656641

Last Known Address: 33 Harris Close, Newton Mearns, , , GLASGOW, G77 6TU

Conduct: Tarun KHADIYA (Mr Khadiya) caused Glasgowdream Ltd (Dream) to apply for a Bounce Back Loan (BBL) of £50,000 on 24 September 2020 when he knew, or ought to have known, that Dream did not meet the criteria for that loan. In order to be eligible for a Bounce Back Loan, both the Government and the Royal Bank of Scotlandís guidance stated that a company had to be established and operating before 1 March 2020 in order to meet the application criteria. Dream was incorporated on 6 March 2020, commenced to trade on that date and therefore was not eligible to apply On 24 September 2020 Mr Khadiya applied for a Bounce Back Loan on behalf of Dream and made a declaration that the company met the eligible criteria for that loan On 24 September 2020 Mr Khadiya stated on the application for the Bounce Back Loan that the annual turnover of the company was, or was estimated to be, £247,034 On 24 September 2020, a BBL of £50,000 was paid into a bank account in the name of Dream Draft accounts prepared by the company accountant, based on information provided by Mr Khadiya and signed off by him on 7 April 2021, show that the turnover for the year ending 31 March 2021 was £1,297 gross Draft accounts prepared by the company accountant, based on information provided to by Mr Khadiya and signed off by him on 7 April 2021, along with company bank statements provided by the Liquidator show that the company appeared to have no income prior to 25 September 2020, when the BBL was paid into the account Analysis of the company bank account identified payments of £37,051 debited from the account between 1 April 2021 and 5 May 2021, the day after Liquidation, for which no explanation has been provided. This included £21,576.08 by online transfer to loans; £874.49 by card payment to a credit card bill; £1,426.17 by online transfer to an RBS Black account; an unknown debit of £10,000 and an online payment of £2,900 No repayments were made to the BBL other than a Right of Set Off transfer of £41.36 from the company bank account on 13 May 2021 At Liquidation, the only known creditors were RBS and the company accountant 

This information is correct as at 23 / 3 / 2022



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