VALLI Adam Umarji, of Dodgson Road, Preston, was disqualified from acting as a company director for four years when he appeared in Manchester County Court on September 20.
The Disqualification Order prevents Mr Umarji from being a director of a company or in any way, whether directly or indirectly, being concerned in or taking part in the promotion, formation or management of a company for the above period.
The order was made in respect of his conduct as a director of Joe Cool (Manchester) Ltd, which traded as a fashion retailer for approximately eight years from premises at 58 Bury New Road, Manchester.
The company was placed into voluntary liquidation on June 18, 1997, with an estimated deficiency to creditors of £1,011,657 related to trade creditors.
The matters of unfit conduct by Mr Umarji found by the court were as follows:
That he caused the company to continue to trade when he knew, or ought to have known, that the company was insolvent from at least November 1996 and, as such, trading was to the detriment of creditors.
That he failed to ensure that the company preserved and/or delivered up adequate accounting records as required by the Companies legislation.
That he failed to ensure that audited accounts were filed with the Registrar of Companies as required by the Companies legislation; and
That he misused the company's bank account in that he tendered cheques to creditors at a time when he knew or ought to have known that there was insufficient funds in the company's bank account to honour those cheques.
The Secretary of State was represented in court by Messrs Cobbetts of Manchester.
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