Lettings boss Ghanshyam Sarup Batra has been spared jail after receiving a suspended sentence for transferring company funds after control of the company had passed to a receiver.
Batra, 63, of Sedge Hill, Roydon, Essex, was director of Dylan Lettings Worldwide Limited. The London-based agency managed short-stay rental apartments marketed as Aparthotels but went into liquidation after it ran into financial difficulties.
Substantial debts
The court heard that Batra had been ordered to pay more than £6.5 million after mortgage lenders called in personal debts. Within an hour of that order, £50,000 was transferred from the company account to his personal account.
The transfers continued over a four-day period while the…