- By Raju Kumar
- Fri, 20 Feb 2026 12:10 AM (IST)
- Source:JND
An Indian-origin boss of a property lettings company in Essex, south-east England, has been sentenced for fraud following investigations by the UK's Insolvency Service. Ghanshyam Sarup Batra, also known as Shyam Batrawanted wanted to contest to be elected Mayor of London. He had announced his desire to contest as an independent candidate in the London mayoral elections 2024, but was ultimately not nominated.
What Is The Case?
Batra was sentenced to 12 months in prison and suspended for 18 months, for transferring more than 100,000 pounds from his company's bank account to his personal account. Chris Wood, Chief Investigator at the Insolvency Service, said Batra knew exactly what he was doing when he emptied the company's bank account.
"Within an hour of losing control of the business, he began moving money into his own pocket, leaving creditors with nothing. This was a deliberate and dishonest act, and the jury saw through his attempts to justify it. This conviction should serve as a warning that we will pursue those who try to cheat creditors out of money they are owed," he said.
Batra was director of Dylan Lettings Worldwide Limited, a company managing four London-based "Aparthotels", when he drained its account over a four-day period in 2017 after the company and its assets had formally transferred to a court-appointed Official Receiver.
Batra pleaded his innocence at the Old Bailey court in London, accepting that he removed the funds but claiming that he believed he was entitled to withdraw the money.
"However, this account was rejected and a jury unanimously found him guilty of one count of fraud in anticipation of winding-up under the Insolvency Act 1986 following a six-day trial at the Old Bailey," the Insolvency Service said, which is also seeking confiscation of funds under the UK's Proceeds of Crime Act 2002.
(With PTI Inputs)