Amandeep Singh Lalli, 39, a company director from Ilford, Essex, has been disqualified for 11 years, following a hearing at the High Court of Justice on 25 October*2017.
This follows an investigation by the Insolvency Service.
Mr Lalli failed to ensure that Pioneer Traders (UK) Limited (Pioneer) maintained and/or preserved adequate trading records or, in the alternative he failed to deliver up such records as were maintained or preserved during the period of his directorship from 1 October 2009 to liquidation on 20 April 2015. As a result the Official Receiver has been unable to:
establish the full nature of Pioneer?s trading activities during the period of Mr Lalli?s appointment and whether these were connected with genuine trading purposes
establish the stock that it held and traded in was legitimate
establish extent of cash transactions and whether Pioneer should have registered as a High Value Dealer with HMRC?s Anti-Money Laundering Unit
determine the full extent of purchases, sales, income, expenditure, and thereby determine Pioneer?s excise and VAT liabilities
verify Pioneer?s VAT repayment claims for August and November 2011, and its subsequent understated returns
verify the true amount owed to HMRC for excise and VAT
account for acquisition and disposal of assets
establish the level of remuneration and other benefits taken by Mr Lalli as the sole director of Pioneer
Mr Lalli caused Pioneer to make wrongful declarations for VAT including repayment claims for the August and November 2011 VAT periods totalling ?285,848, and to fail to declare goods and trading on which excise and VAT was due.
Tony Hannon, the Official Receiver in the Public Interest Unit South, part of the Insolvency Service, said
Directors have a duty to ensure that their companies maintain proper accounting records, and, following insolvency, deliver them to the office-holder in the interests of fairness and transparency.
Without such records, it is impossible to determine whether a director has discharged his duties properly, or is using a lack of documentation as a cloak for impropriety..