9-year ban for director who lied to get financial support from Covid-19
Inderjit Singh Dadial, 32, from Wolverhampton has been disqualified as a director for nine years.
He was the sole director of Cali Juices Ltd, a wholesaler of specialist soft drinks, which was incorporated in 2019 with a registered address in Wolverhampton.
In June 2020, Inderjit Singh Dadial applied for and was granted £50,000 under the Bounce Back Loan scheme.
Company accounts ending January 2020, however, showed turnover of just over £2,000, but the Insolvency Service investigation found Inderjit Singh Dadial had lied and said the figure business was £250,000.
The company was in fact not eligible for any money under the scheme based on its actual accounts and income received in the company’s bank account.
The Secretary of State for Business, Energy and Industrial Strategy has accepted a disqualification pledge from Inderjit Singh Dadial after he admitted grossly inflating the company’s turnover to secure the Bounce Back loan. His ban runs from March 21, 2022 and lasts 9 years.
The forfeiture undertaking prevents him from getting involved directly or indirectly in the promotion, constitution or management of a company, without judicial authorization.
Dave Elliott, Chief Insolvency Service Investigator, said:
Inderjit Singh Dadial had significantly inflated the turnover on the application for a loan which Cali Juices Limited was not entitled to.
The Insolvency Service will not hesitate to investigate and use its powers against those who have abused COVID-19 support programs.
Notes to editors
Inderjit Singh Dadial from Wolverhampton and his date of birth is December 1990.
Cali Juices Ltd (company registration number 11798166)
A disqualification order means that, without the express permission of a court, a disqualified person cannot:
act as a director of a company
participate, directly or indirectly, in the promotion, incorporation or management of a company or a limited liability company
to be a receiver of a company’s assets
Forfeiture undertakings are the administrative equivalent of a forfeiture order but do not involve court proceedings.
Persons subject to a disqualification order are bound by a series of other restrictions.
Information about the work of the insolvency service and how to complain about financial misconduct.
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