Inflated turnover in loan application

Marketing boss banned

Transactions were to the detriment of the company and its creditors
Firm was not eligible for the amount claimed

The boss of a marketing services company has received a lengthy ban for abuse of the Bounce Back Loan scheme.

Supreet Handa was the sole director of Temple Marketing Services Ltd, based in Dewsbury.

The Insolvency Service report into his conduct found that he applied for a £45,000 taxpayer-backed BBL when he knew, or ought to have known, that the business was not eligible to receive that amount.

“Bank statements show total receipts during calendar year 2019 of £57,525, meaning Temple was eligible for a BBL of no more than £14,381,” the Insolvency Service stated.

Handa had stated that turnover was £180,000 in his self-certified application.

Temple Marketing Services went into voluntary liquidation in March 2022.

It had no assets available to creditors, and an estimated total deficiency of £84,600.

Of that £45,000 was owed to Lloyds Bank for the BBL, with Handa himself also listed as a creditor and owed £39,500.

As a result of his actions Handa has been disqualified from being a director for 10 years, with the ban starting on 19 March.

His month of birth is July 1984 and his last known address was on Rotary Close in Dewsbury.