Name: Ajay  Ram

Name: Pujji Finance Ltd

Date of Birth: 4 / 6 / 2000

Date Order Starts: 29 / 1 / 2024

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 10281762

Last Known Address: 18 Waltham Road,, , , , SOUTHALL,, UB2 5AW

Conduct: On 2 October 2020, Mr Ajay Ram ("Mr Ram") caused Pujji Finance Ltd ("Pujji") to apply for a Government backed Bounce Back Loan ("BBL") totalling £50,000 for which it was not eligible for the full amount by including inaccurate information relating to turnover. Thereafter, the BBL was paid into Pujji's bank account on 5 October 2020 and was not used in its entirety for the economic benefit of the business. In that: • The BBL application enabled the applicant to apply for a loan of between £2,000 and £50,000 up to a maximum of 25% of Pujji's turnover for calendar year 2019. The BBL application form required the applicant to declare that the BBL funds would be used for the economic benefit of the business, and not be used for personal benefit. • The BBL application submitted by Mr Ram in respect of Pujji, declared turnover for the calendar year 2019 of £218,300. • Pujji's accounts to 31 July 2019 record turnover in the sum of £85,665, and draft accounts to 31 July 2020, provided by Pujji's accountants, record turnover in the sum of £178,707. Average monthly turnover calculated from these accounts indicate that Pujji's turnover for the calendar year 2019 would have been in the region of £124,432, entitling Pujji to a BBL of £31,108 • Dormant accounts were filed at Companies House for the accounting period ended 31 July 2020. • Pujji's bank statements for the period 1 January 2019 to 31 December 2019 record total receipts during this period (excluding intercompany loans) in the sum of £77,521.25. • The level of turnover for the calendar year 2019 declared in the BBL application form in the sum of £218,300 was overstated by at least £93,868 and Pujji therefore received at least £18,892 to which it was not entitled. • Pujji's bank statements confirm that, following receipt of the BBL in the sum of £50,000 on 5 October 2020, after the repayment of Pujji's overdraft the balance of the BBL fund totalling £34,837.51 was paid to Mr Ram personally between 6 October 2020 and 7 October 2020. • The outstanding balance on the BBL account is £50,171.37. 

This information is correct as at 9 / 1 / 2024

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