LONDON: A 58-year-old Indian-origin director of a pizza company in the UK has been banned for seven years for making payments totalling at least 205,000 pounds to a company in which he had a personal interest.
Balwinder Singh’s Charnwood Foods Ltd in the WestMidlands region of England had the franchise for Papa John’s Pizza in Bromsgrove from March 2014 to March 2015.
The company went into liquidation on August 26, 2015, with no assets, owing an estimated 358,816 pounds to creditors of which 308,233 pounds was owed to a bank in respect of bank loans.
An investigation by the UK’s Insolvency Service found that Singh “unreasonably caused payments” of at least 205,000 pounds to a partnership he had a personal interest in….
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