PRITESH LADWA

Disqualified from

2021-02-12

Date of birth on record

October 1987

I caused The Forest Project TFP Ltd (“TFP”) to obtain monies from The Forestry Commission (“FC”) comprising Woodland Creation Grants (“grants”) by providing inaccurate information and failed to ensure that TFP adhered to the terms and conditions of the grants, at the ultimate risk of FC. As a result, FC reclaimed the grants from TFP and are owed £536,870.40 at the date of liquidation in that: ? Between 12 March 2013 and 21 January 2014, FC approved six grants for TFP to create woodland on six different sites around England. ? When applying for the grants, I was negotiating to purchase five of the sites and contracts had exchanged on some sites but no purchases had completed. TFP only went on to purchase two sites before the proceedings mentioned below. There had never been an expectation to purchase the sixth site, and TFP was developing the forest on behalf of the owner. ? The terms and conditions of the grant required that public access to the site was allowed for 30 years. Neither I nor TFP were the owner of the sites when applying for the grants. ? The terms and conditions also stipulated, for each site, the areas to be planted, the mix of tree species, stocking density and spacing. Each site had to be fully established over the plan period of ten years, and maintenance had to be provided for 30 years. In order to achieve the contracted outcome, each site had to be weeded, protected, tree losses replaced, and other necessary maintenance carried out. ? I completed claim forms to receive payment of the grants stating that in every case, all work had been completed in accordance with the terms and conditions of the contracts. ? Between 20 May 2013 and 07 April 2014, TFP received payment of £634,944 from FC. ? When the sites were subsequently inspected by FC some time later, no site met the full requirements for the grant. Where evidence of trees having been planted was found, the stocking density and survival rates were lower than required and in some areas, no evidence of planting was found. It is due to the fact that TFP was told to not carry out any further works on any sites that by the time an inspection was carried out, the original works had fallen below the standards required. ? FC sent letters to TFP reclaiming all of the grant monies paid. ? In respect of one site, I was prosecuted by FC and found guilty. A confiscation order was made relating to the grant and paid in full, partly using funds from TFP’s bank account. ? None of the remaining grants were repaid and FC are owed £536,870.40 at the date of liquidation. AND Between 16 January 2018 and 04 July 2018, when TFP was insolvent, I caused TFP to make payments to myself that totalled £67,327 and payments to associates totalling £30,000. No accounting records have been delivered that explain these transactions. The transactions were to the detriment of TFP’s general body of creditors in that: ? In the period to September 2015, the FC had sent invoices to TFP reclaiming all grants paid in the sum of £634,944. One grant was partly repaid by way of a confiscation order and £536,870 remained outstanding for grants paid on five sites. ? Following reclaim of the grant monies, TFP had no other trade income. ? On 01 January 2018, the balance on TFP’s bank account was £7. ? On 12 January 2018 and 15 January 2018, £70,530 and £101,554 were credited to the bank account from solicitors acting for the company. These monies were proceeds from the sale of all remaining land owned by TFP - a sale which was triggered as part of the Proceeds of Crime Act order against me. ? Between 16 January 2018 and 04 July 2018 £67,327 was paid to me. This was to pay back the part of the confiscation order that had been obtained through loans from family friends. ? Between 02 March 2018 and 05 March 2018, £30,000 was paid to an associate of mine. ? No accounting records have been provided which explain the reason for the transactions. I have been asked to account for the transactions but have failed to respond to either the Liquidator or the Insolvency Service. ? These transactions were to the detriment of FC who were owed £536,870 at the date of liquidation. TFP’s trade creditors were owed £29,423 and HMRC was owed £16,262 at the date of liquidation, although I was unaware of the debt to HMRC at that time.