The men ran Chunky Chicken, a Nottingham takeaway until December 2019, when they sold the business.
However Mujeebullah Khan, 34, improperly applied for a government-backed Bounce Back Loan of £50,000 in the business name after the sale of the company. The money was used to repay a business creditor and who was also a relative of Muhammed Omair Javaid.
Both Mujeebullah Khan and Muhammed Omair Javaid, 33, made themselves bankrupt on 24 May 2021, citing debts of over £200,000 that included the Bounce Back Loan.
Both Mujeebullah Khan and Muhammed Omair Javaid signed bankruptcy undertakings that extend their restrictions for 8 years.
This means they are limited to what credit they can access, as well as not being able to act as a company director without the permission of the court.
