In­dian-Ori­gin Di­rec­tor of Pizza Co Banned in UK

The Economic Times - - Around The World -

Lon­don: A 58-year-old In­di­ano­ri­gin di­rec­tor of a pizza com­pany in the UK has been banned for seven years for mak­ing pay­ments to­talling at least £205,000 to a com­pany in which he had a per­sonal in­ter­est. Bal­winder Singh’s Charn­wood Foods had the fran­chise for Papa John’s Pizza from March 2014 to March 2015. The com­pany went into liq­ui­da­tion on Au­gust 26, 2015 with no as­sets, ow­ing an es­ti­mated £358,816 to cred­i­tors of which £308,233 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 to a part­ner­ship he had a per­sonal in­ter­est in. Singh can­not man­age or con­trol any com­pany un­til July 30, 2024. PTI

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