British govt disqualifies Indian-origin dentist as director
Tapeshwar Anand, who was the sole director of a healthcare company, spent over £1 million of company money on a property in a French ski resort.world Updated: Apr 08, 2017 19:16 IST
Tapeshwar Anand, an Indian-origin dentist who was struck off the British General Dental Council’s list of professionals following allegations of serious misconduct and poor performance in 2015, has now been disqualified as a company director.
The Insolvency Service said on Friday that Anand had been disqualified as a director after spending over £1 million of company money on a property in a French ski resort. The service said Anand, who now resides in New Delhi, was the sole director of a healthcare company.
Anand has signed an undertaking to be disqualified as a director for seven years after spending the company money received from patients for dental treatments on a personally-owned property in Combloux, France, it said.
The funds were spent between July 2009 and March 2013, resulting in the company falling into arrears with paying its liabilities to creditors, the service said.
Anand accepted that while a director of the company, he breached his fiduciary duties and failed to act in the best interests of the company and its creditors; specifically, by causing the company to incur expenditure of at least £1,040,254 between July 2009 and March 2013 on an overseas property which he owned personally, and over which the company had no legal charge or security.
Martin Gitner, deputy head of investigations at the service, said: “It is clear that Dr Anand breached his duties as a director by using company funds to finance the refurbishment of a personally owned property, which means taxpayers and other creditors lose out considerably.”
The disqualification order means that without specific permission from a court, a person with a disqualification cannot act as a director of a company, take part, directly or indirectly, in the promotion, formation or management of a company or limited liability partnership or be a receiver of a company’s property.