Name: SHEHZAD NAEEM

Name: RIO COMMS LIMITED

Date of Birth: 25 / 7 / 1981

Date Order Starts: 23 / 6 / 2026

Disqualification Length: 8 Years 0 Month(s)

CRO Number: 09426981

Last Known Address: 4 Orchard Way, , , , LUTON, LU4 9LT

Conduct: Mr Shehzad Naeem (“Mr Naeem”) caused Rio Comms Limited (“Rio”) to breach the terms of the Bounce Back Loan (“BBL”) scheme by overstating its turnover on its application. As a result, Rio received a BBL of £50,000 when Mr Naeem knew or ought to have known that Rio was not entitled to a loan of that amount, 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 1 January 2019 it is their estimated turnover from when the company started. • Rio was incorporated on 6 February 2015. • On 18 June 2020, Rio received a BBL of £50,000 following an application submitted by Mr Naeem declaring a turnover of £200,000. • Rio’s Year End 28 February 2019 accounts show turnover of £39,838. • Rio’s Year End 29 February 2020 accounts show turnover of £35,344. • Bank statements analysis shows that Rio had a turnover of £31,512 for the calendar year 2019. • Therefore, Rio would have been eligible to apply for a BBL of £7,878 • The overstatement of turnover meant that Rio received £42,122 more than it was entitled to from the BBL scheme. • Rio entered Creditors’ Voluntary Liquidation on 12 September 2024. Total liabilities at liquidation amount to £40,178, of which £40,178 relates to the amount owed in respect of the BBL. 

This information is correct as at 3 / 6 / 2026

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