Case details for Anchal Patel

Name: Anchal Patel

Name: ANCHAL PATEL LIMITED

Date of Birth: 24 / 11 / 1985

Date Order Starts: 24 / 12 / 2024

Disqualification Length: 10 years Years 0 Month(s)

CRO Number: 07964512

Last Known Address: 72 Tower Hamlets Road,, , , , LONDON,, E7 9BZ

Conduct: Anchal Patel (“Ms Patel”) caused Anchal Patel Limited (“PATEL”) to overstate PATEL’s turnover in an application for a Bounce Back Loan (“BBL”) of £50,000 and as a result, PATEL received more funds than it was entitled to from the BBL scheme, in that: • Under the BBL scheme, businesses were entitled to borrow between £2,000 and £50,000, up to a maximum of 25% of turnover in the calendar year 2019. • Where a business did not commence trading until after 01 January 2019, the business was able to estimate turnover from the date the business was started. • PATEL was incorporated on 24 February 2012, therefore was required to use actual turnover from 2019, not an estimated turnover for the purpose of the BBL application. • PATEL’s accounts for year ended 29 February 2020, show turnover of £34,025. • PATEL’s accounts for the year ended 29 February 2019 show turnover of £15,800. • On 07 July 2020, Ms Patel submitted a BBL application in which she stated that PATEL’s annual turnover was £285,000 and on 16 July 2020, PATEL received BBL funds of £50,000 into the company bank account. • PATEL had been trading for over 12 months, so Ms Patel ought to have been aware that PATEL’s turnover in the previous 12 months had been substantially less than £285,000. • Based on the BBL criteria and company turnover, PATEL was entitled to receive no more than £8,506, whereas PATEL received £50,000. • As a result of the overstatement of turnover in the BBL application, PATEL received at least £41,494 more than it was entitled to. • PATEL made repayments of £5,446 towards BBL. • On 10 March 2023, PATEL entered Creditors’ Voluntary Liquidation and at the date of liquidation, the BBL lender was owed £45,840. 

This information is correct as at 3 / 12 / 2024



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