Name: Abid Shakeel

Name: FIC 002 LTD

Date of Birth: 26 / 7 / 1973

Date Order Starts: 30 / 1 / 2024

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 11847384

Last Known Address: Flat 48, Southmoor, 23 Glebelands Road, , , Manchester,, M23 1HR

Conduct: Mr Abid Shakeel (“Mr Shakeel”), acting as a director, caused FIC 002 Ltd (“FIC 002”) to apply for a Bounce Back Loan (“BBL”) of £50,000 when he knew, or ought to have known, that FIC 002 was not eligible for the loan, in that: FIC 002 was incorporated at Companies House on 26 February 2019. The BBL criteria stated, amongst other criteria, that borrowers were required to declare that: the business is engaged in trading or commercial activity in the UK at the date of the application, was carrying on business on 1 March 2020 and has been adversely affected by coronavirus (COVID-19). more than 50% of the income of the business (together with that of any member of any group of which it is a part) is derived from its trading activity. This confirmation is not required if the borrower is a charity or a further education college. Mr Shakeel applied for a BBL of £50,000 on behalf of FIC 002, stating in the loan application that FIC 002’s estimated annual turnover was £250,000. Mr Shakeel was not formally appointed a director of FIC 002 at Companies House but has stated his position in the company as Shareholder/Director on the BBL application. An analysis of the income from FIC 002’s bank account statements from 22 February 2020 (start date) to 4 February 2021 shows credits of £19.40 for that period, excluding the BBL funds. FIC 002 has not been able to evidence that it was trading or engaged in commercial activity at 01 March 2020 On 28 May 2020, funds of £50,000 were credited to FIC 002’s bank account. On 15 June 2020, £42,000 was transferred to an associated company. At the date of the Liquidation on 14 December 2021, a total of £42,500 was owed to creditors, of which £42,100 was in respect of the BBL. 

This information is correct as at 10 / 1 / 2024

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