Disgraced Director disqualified for 13 years

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Bad news for the construction Industry

Qasim Ali Munir, director of Farman Homes Ltd, a construction company based in Edgware, Middlesex, has been disqualified from acting as a company director for 13 years for using false documents for personal gain.

Farman Homes was placed into administration on 19 March 2010, owing creditors approximately £500,000.

An investigation by the Insolvency Service found that Mr Munir – 37 and from Stanmore – had provided a false document to HM Land Registry, via his solicitors, in order to release a charge held by Farman Homes’s bank on a property he had purchased from Farman Homes. By releasing the charge, Mr Munir managed to ensure that the sale proceeds from the property were paid to him and his associates, and not to the bank.

In addition, Mr Munir had failed to co-operate with Farman Homes’ administrators and failed to hand over any of Farman Homes’ accounting records. As a result it was not possible to verify certain aspects of Farman Homes’ trading or to establish its assets and liabilities at the date of administration.

Insolvency Service investigations director Claire Entwistle said: “Submitting false documents for personal gain is a very serious matter and the courts rightly treat it as such. Directors who fail to do right by their creditors will be in our sights.

“The Insolvency Service will seek to remove them from the business environment.”

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