
Director Banned for 6 Years for Bounce Back Loan Misuse and Other Wrongdoings

The government’s Bounce Back Loan scheme saw abuse, with directors banned for fabricating business records. […]
Asim Mahmood, director of Gulzar Trade Limited, has been banned from acting as a company director for 11 years, effective July 15, 2025, after fraudulently obtaining a £50,000 Barclays Bounce Back Loan. When questioned about the funds, Mahmood admitted to withdrawing the money for personal use, leading to the lengthy ban for breaching director duties and misusing government-backed financial support intended for business recovery. […]
Directors who ignored Bounce Back Loan terms by paying personal debts risk disqualification and financial penalties. […]
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