Name: Sajitkaanth Nagarajah

Name: SKN SERVICE PROVIDERS LTD

Date of Birth: 25 / 7 / 1986

Date Order Starts: 25 / 1 / 2024

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 10113472

Last Known Address: 1 FAIRWATER AVENUE, , , , BIRKENHEAD, CH41 8AN

Conduct: Mr Sajitkaanth Nagarajah (“Mr Nagarajah”) caused SKN Service Providers Ltd (“SKN”) to apply for a Bounce Back Loan (“BBL”) of £21,000 by overestimating SKN’s turnover. As a result, SKN received BBL funds of £13,726.67 that it was not entitled to and failed to use the BBL for the economic benefit of SKN, 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 01 January 2019, it was their estimated turnover.?? ? • SKN was incorporated on 08 April 2016.? • On 04 May 2020, Mr Nagarajah applied for a BBL of £21,000 on behalf of SKN declaring that its turnover for the calendar year 2019 was £84,000. • SKN filed dormant accounts for the period ending 29 April 2019. • SKN filed accounts for the period ending 30 April 2020 which show turnover of £3,097. • SKN’s bank statements for the calendar year 2019 show total credits of £29,093.30. Based on this amount, SKN would have been entitled to apply for a BBL of £7,273.33. Therefore, SKN has received BBL funds of £13,726.67 that it was not entitled to. • Mr Nagarajah has not provided any documentary evidence to show what the stated turnover figure of £84,000 was based on or that SKN was entitled to apply for a BBL of £21,000. • SKN received the BBL funds of £21,000 on 08 May 2020. ? • On 09 and 10 May 2020, Mr Nagarajah transferred £14,490 of the BBL funds to his personal bank account. On 11 May 2020, Mr Nagarajah made a payment of £6,512.74 to a third party in relation to a personal loan. • Mr Nagarajah has not provided any evidence the BBL funds were used for the economic benefit of SKN. • On 27 October 2022, SKN entered Creditor’s Voluntary Liquidation with total liabilities of £28,144.71, of which £21,223.63 was owed in respect of the BBL and SKN’s overdraft facility. 

This information is correct as at 5 / 1 / 2024

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