Name: Muhammad KHAN

Name: HASTAH TRADING AND BUSINESS SERVICES LTD

Date of Birth: 6 / 8 / 1978

Date Order Starts: 20 / 8 / 2025

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 10900806

Last Known Address: 14 Storer Road, Anstey,, , , , LEICESTER,, LE7 7YH

Conduct: Mr Muhammad Khan (“Mr Khan”) breached the terms of the Bounce Back Loan (“BBL”) scheme by causing Hastah Trading and Business Services Ltd (“HTBS”) to overestimate its turnover on its application for a BBL dated 10 August 2020, resulting in the company receiving a BBL of £50,000 when he knew, or ought to have known, HTBS was not eligible for a loan of that value. In addition, Mr Khan failed to ensure the BBL funds were used for the economic benefit of the business as required, in that: • The BBL scheme terms allowed businesses to receive a loan of up to 25% of their annual turnover for the 2019 calendar year, which the applicant would self-certify when completing the BBL application.   • If a business was established after January 2019, they were allowed to estimate the turnover from the date the company started to trade. • HTBS was incorporated in August 2017. • Dormant annual accounts were filed for financial years ending 31 August 2019, 31 August 2021 and 31 August 2022. • Bank statements show receipts totalling £3,080 between 16 June and 12 September 2020. • Mr Khan declared on the company’s BBL application form, dated 10 August 2020, an annual turnover of £200,000, and consequently on 05 October 2020 HTBS received a £50,000 BBL. • No evidence had been provided to verify the turnover figure of £200,000 stated. The terms of the BBL scheme stated that the BBL was to be used only for the economic benefit of the business, used wholly for business purposes and not personal purposes. • The bank balance prior to receipt of the BBL was £3,015.37 • After receipt of the £50,000 BBL on 05 October 2020, payments totalling £19,000 were made to an unknown individual between 07 November 2020 and 27 July 2021. • Payments to an associated company were made totalling £9,000 between 19 November 2020 and 28 February 2021. • Payments totalling £16,000 were made to the director between 30 June 2021 and 06 January 2022. • Of the £44,000 payments made to the director, an unknown individual and an associated company, at least £40,984.63 came from BBL funds. • The payments detailed above were not for the economic benefit of HTBS and were contrary to the terms of the BBL scheme. • HTBS entered Creditor’s Voluntary Liquidation on 16 June 2023. • At liquidation, HTBS had liabilities totalling £47,000, of which £45.321.20 was owed to the bank in respect of the BBL.  

This information is correct as at 31 / 7 / 2025

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