Name: JAHANZEB RASHID

Name: AMO`S Bizzy Bees Cars Ltd

Date of Birth: 13 / 3 / 1988

Date Order Starts: 8 / 3 / 2024

Disqualification Length: 12 Years 0 Month(s)

CRO Number: 10556691

Last Known Address: 60 Caldmore Road,, , , , WALSALL,, WS1 3NP

Conduct: Jahanzeb Rashid (“Mr Rashid”) caused Amo’s Bizzy Bees Cars Ltd (“Amo’s”) to apply for two Government backed Bounce Back Loans, when Amo’s was only entitled to one BBL, resulting in Amo’s receiving a second BBL of £49,912 which it was not entitled to. In that: The terms of the BBL scheme were that the applicant company was entitled to one BBL of between £2,000 and a maximum of £50,000 based on 25% of the business’ turnover for 2019. At the time I applied for the BBLs, the only accounts available were those for year ending 30 September 2018 which declared a turnover of £74,250. Accounts for the year ending 30 September 2019 show turnover of £129,505. Bank statements available from August 2019 to April 2020 show credits into the account in excess of £190,000, therefore it is likely Amo had the turnover to justify a BBL of £50,000. On 04 May 2020 I applied to Bank A for a BBL of £49,900 stating that its turnover was £199,648. The BBL funds were paid into Amo’s bank account with Bank A on 05 May 2020. On 12 May 2020 I applied to Bank B for a BBL of £49,912 stating that its turnover was £199,648. The application form contained the declaration that this was the only BBL application made for Amo’s, which was signed by me on 12 May 2020, seven days after receipt of the BBL from Bank A and funds had been expended. The BBL funds of £49,912 were received into Amo’s bank account with Bank B on 14 May 2020. Amo’s was only eligible for one BBL and therefore obtained at least £49,912 more than it was entitled to. Repayments totalling £5,087.91were made in respect of the BBL owed to Bank A. No repayments were made towards the BBL owed to Bank B 

This information is correct as at 19 / 2 / 2024

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