NRI couple barred from being directors of any Co Tuesday, June 8 2004 20:50 Hrs (IST)
London:
An NRI couple, both directors of a labour recruitment firm that failed with total debts worth 3.7 million Pounds, have given undertakings not to hold directorships or take part in any company management for four years.
The undertakings by Gurdev Singh Dadral, 50, and his wife Kamla Dadral, 43 -- both of Farndale Crescent -- in Greenford, Middlesex, were given in respect of their conduct as directors of SWIIS Limited, which carried out business from their premises in New Broadway, Ealing.
Acceptance of the undertakings prevents the couple from being directors of a company or in any way, whether directly or indirectly, being concerned or taking part in the promotion, formation or management of a company for four years.
SWIIS was placed into administration on September 28, 2000 with estimated debts of 3,786,764 Pounds owed to creditors.
The Insolvency Service, on behalf of the Secretary of State for Trade and Industry, has responsibility for the investigation of the conduct of directors of failed companies and for the disqualification of those who are considered unfit to be involved in the management of companies in the future.
Both admitted that they allowed SWIIS to trade to the detriment of the Inland Revenue between May 1998 and September 27, 2000.