Name: AAMIR AYYAZ

Name: B1 AUTOS LTD

Date of Birth: 10 / 8 / 1975

Date Order Starts: 11 / 3 / 2024

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 11415399

Last Known Address: 62 Ronald Road,, , , , BIRMINGHAM,, B9 4UL

Conduct: On 19 May 2020 Mr Aamir Ayyaz (‘Mr Ayyaz’) applied for and obtained a Government-backed Bounce Back Loan (‘BBL’) of £50,000 for B1 Autos Ltd (‘B1A’) by providing false or knowingly inaccurate information regarding B1A’s turnover in 2019, thereby causing it to obtain £40,876 in BBL funding to which it was not entitled. Mr Ayyaz failed to ensure that the proceeds of the loan were used in their entirety for the economic benefit of the business as required under the terms of the BBL scheme. In that: Obtaining a BBL The BBL scheme permitted a loan of up to 25% of a business’ turnover in the calendar year 2019 (or estimated annual turnover if it had been established after 01 January 2019), to a maximum of £50,000; B1A was incorporated in June 2018 and commenced trading at that time; Accounts to 30 June 2019 record turnover of £36,497 and bank statements show income of £15,290 for the calendar year 2019; Based on its accounts, B1A was entitled to a BBL of no more than £9,124; On 19 May 2020 Mr Ayyaz completed an application form for a BBL from B1A’s bank, self-certifying that its turnover in 2019 was £210,550 and requesting a loan of £50,000; Mr Ayyaz has failed to provide any documentation to support the level of turnover claimed in the application; As B1A was trading throughout 2019 it was not entitled to estimate its turnover on the application form; Therefore B1A obtained £40,876 in BBL funding to which it was not entitled; Disbursal of the BBL The terms of the BBL scheme required the proceeds to be used solely for the economic benefit of the business; Immediately before the receipt of the BBL the bank account held a credit balance of £190 On 21 May 2020 the BBL was paid into B1A’s account; Between this date and 15 September 2020: £30,000 was withdrawn in cash; and £18,000 was paid to third parties; Of these payments, £25,331 could not have been funded without the BBL; Mr Ayyaz has not provided evidence that any of these payments were for the economic benefit of the business; At the liquidation date the bank was the majority creditor and it has submitted a proof of debt which includes £50,840 in respect of the BBL. 

This information is correct as at 20 / 2 / 2024

If you believe this page contains any errors, please email legalservices@insolvency.gov.uk with details of the error that you have found.