Here are the juicy details that led to the Company Director named being given a 13 year ban.
On or after 25 May 2016, Khalid Iqbal Bhatti (“Mr Bhatti”) caused Daniel Johns Manchester Limited (“DJML”) to trade with a lack of commercial probity.
In that:
DJML applied to the Council to purchase a freehold property, which it was to develop and lease to investors.
On 25 May 2016, the Council refused to transfer the freehold property to DJML, unless it complied with the Council’s planning permissions and make specific amendments to the development property.
DJML failed to comply with the planning permission requirements but continued to market and sell leases to 93 investors, selling 107 units to which DJML did not have title to the failure to apply investor monies for the purposes of completing the development project, leaving the property a derelict shell.
As a consequence investors have suffered losses in the liquidation of at least £5,464,924 and it has not been possible to trace where these monies have been used.
Bounce Back Loan Abuse
Whilst he was director of the 11 companies, each of the following companies improperly obtained Government Bounce Back Loans when they were not eligible under the regulations:
- Daniel Johns Birmingham Limited
- Daniel Johns Blackpool Limited
- Daniel Johns Liverpool Limited
- D J Homes Manchester Limited
- D J Suites Blackpool Limited
- D J Suites Developments Limited
- Anzaa Limited
- Bloomwright Limited
- Daniel Johns Suites Limited
- Freedom Pizza Limited
- ABN Ayton Court Limited
