Name: Karamjit Singh  Panesar

Name: DIAMOND DESIGNS AND BUILD LIMITED

Date of Birth: 30 / 1 / 1987

Date Order Starts: 25 / 9 / 205

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 09908300

Last Known Address: 21 Endsleigh Gardens,, , , , ILFORD,, IG1 3EQ

Conduct: On 24 May 2020 Mr Karamjit Singh Panesar (“Mr Panesar”) caused Diamond Designs and Build Limited (“DDB”) to breach the terms and conditions of the Bounce Back Loan (‘BBL’) Scheme by applying for a BBL when DDB had already applied for and received a previous BBL, in that: • The BBL scheme permitted a single loan of up to 25% of a business’ turnover in the calendar year 2019 (or estimated annual turnover if it had been established after 01 January 2019), up to a maximum of £50,000. The BBL scheme eligibility criteria allowed for businesses to only receive one BBL • On 19 May 2020 Mr Panesar signed an application form with DDB’s bank, Bank A, requesting a BBL of £50,000. • The application form included a declaration that it was the only BBL applied for, for that business. • The BBL of £50,000 was paid into DDB’s account with Bank A on 21 May 2020. • On 24 May 2020 Mr Panesar applied to another bank, Bank B, for a second BBL of £50,000. • Bank B’s BBL application form also included a declaration that it was the only BBL applied for. • The second BBL of £50,000 was paid into DDB’s bank account with Bank B on 27 May 2020. • By making a second BBL application to borrow £50,000, DDB received £50,000 more than it was entitled to. • DDB entered Creditors Voluntary Liquidation on 28 November 2023 with liabilities totalling £478,536. £40,168 and £41,837 remained outstanding respectively for the BBLS. 

This information is correct as at 5 / 9 / 2025

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