Inderjit Singh Dadial, 32, from Wolverhampton has been disqualified as a director for nine years.
He was sole director of Cali Juices Ltd, a wholesaler of specialised soft drinks, which was incorporated in 2019 with a registered address in Wolverhampton.
The company’s accounts ending January 2020 however showed turnover of just over £2,000, but the Insolvency Service investigation found that Inderjit Singh Dadial had lied and stated the turnover as £250,000.
The company was not in fact eligible for any money under the scheme based on its actual accounts, and income received into the company’s bank account.
The Secretary of State for Business, Energy and Industrial Strategy accepted a disqualification undertaking from Inderjit Singh Dadial after he admitted grossly inflating the company’s turnover to secure the Bounce Back Loan. His ban runs from 21 March 2022 and lasts for 9 years.
The disqualification undertaking prevents him from directly, or indirectly, becoming involved in the promotion, formation or management of a company, without the permission of the court.
Dave Elliott, Chief Investigator at The Insolvency Service said:
Inderjit Singh Dadial had significantly inflated the turnover on the application to obtain a loan to which Cali Juices Limited was not entitled.
The Insolvency Service will not hesitate to investigate and use its powers against those who have abused the COVID-19 support schemes.
Inderjit Singh Dadial of Wolverhampton and his date of birth is December 1990.
Cali Juices Ltd (Company Reg no. 11798166)
A disqualification order has the effect that without specific permission of a court, a person with a disqualification cannot:
- act as a director of a company
- take part, directly or indirectly, in the promotion, formation or management of a company or limited liability partnership
- be a receiver of a company’s property
Disqualification undertakings are the administrative equivalent of a disqualification order but do not involve court proceedings.