Name: Asim Mahmood

Name: GULZAR TRADE LIMITED

Date of Birth: 18 / 3 / 1988

Date Order Starts: 15 / 7 / 2025

Disqualification Length: 11 Years Years 0 Month(s)

CRO Number: 11413102

Last Known Address: 16 Clive Court, Havelock Rise, , , LUTON, LU2 7YD

Conduct: Gulzar Trade Limited applied for a Bounce Back Loan (BBL) of £50,000 on 09 May 2020 using overstated turnover figures in the application form. A review of Gulzar’s bank account for the 2019 calendar year shows payments/income totalling £51,092, based on this figure Gulzar would have only been eligible for a BBL totalling £12,773. In the Bounce Back Loan application form, completed on 09 May 2020, the director stated Gulzar’s turnover for 2019 as £228,000, Gulzar received a bounce back loan of £50,000 which was paid into the company bank account on 12 May 2020. Following the receipt of the £50,000 Bounce Back Loan a review of the company bank account shows that between 13 May 2020 and 15 May 2020 payments totalling £46,500 were made to the director. Enquiry issued to director on 16 May 2023, director responded on 23 May 2023 stated BBL monies withdrawn for personal use. He stated that the BBL application not only requested past figures but projections for the coming year which is why he stated the turnover as £228,000. The BBL was obtained from Barclays, copy application obtained, BBL application has the standard wording therefore Gulzar should have used the 2019 turnover. 

This information is correct as at 25 / 6 / 2025

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