Here are the details of this BBL blager case which resulted in an 11 year ban.
In June 2020 Ms Janaki Sunar caused Machha Limited to make a Bounce Back Loan application of £50,000 when she knew or ought to have known that Machha Limited was not entitled to make an application for this amount as the company had insufficient turnover.
In that
- Under the BBL scheme businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover
- Is based in the UK.
- Was established and operating before 1 March 2020.
- Has been adversely impacted by the coronavirus.
- Has not applied for a BBL previously with any provider.
- Machha Limited was incorporated on 10 March 2017.
- In June 2020 Ms Janaki Sunar applied for a BBL of £50,000 on behalf of Machha Limited declaring that its estimated turnover to be £200,000.
Accounts submitted by the company reveal the following Turnover:
- Period ended 31 May 2019 £72,091
- Period ended 31 May 2020 £81,975
- Period ended 31 May 2021 £12,686
- Machha Limited received the BBL funds of £50,000 on 24 June 2020.
- Total liabilities at liquidation amount to £85,351 of which £52,000 relates to the amount owed in respect of the BBL.
