Inderjit Singh Dadial, from Wolverhampton has been disqualified as a director for nine years. Can you imagine that? Living in Wolverhampton. We are told he is 32 (you know the routine, "Inderjit Singh Dadial, 32". Never the waist size, is it? "Richard Bloomfield, 32 with a 34 inch inside leg".)
Anyway, Inderjit was sole director of Cali Juices Ltd (which sounds delicious), a wholesaler of specialised soft drinks, which was incorporated in 2019 with a registered address in ... don't make us type it again. In June 2020 Inderjit applied for a BounceBack (our capitals ... nice, aren't they?) loan of £50,000, along with 1.56 million others since the start of the pan ... blah, blah, blah. The Insolvency Service found he had lied on his application, stating his company's turnover was £250,000, when it was just a smidge over £2,000. You know how confusing forms can be.
The truth is that had Inderjit told the truth he never would have got the loan; which we reckon is why he lied. Anyway, long story short, Inderjit has been disqualified for nine years (nine). Is it just us in the NTI newsroom or does this seem unduly harsh? It cannot be an attempted deterrent, as BounceBack loans are no longer available. The Business Department has given a rather nonchalant ‘most likely’ estimate of £4.9 billion of fraudulent loans. Many, we suspect, much more serious than Inderjit's dabble with government financing. The department has a £32 million budget for counter-fraud operations, and its target is to recover at least £6 million of fraudulent loans - that is 0.12 per cent of the estimated total number.
Poor Inderjit, a man of his moment. Wolverhampton, eh?