Rajiv Khungar and Khungar Home Loans Limited v Financial Services Authortiy: FIN 2004/0028

Upper Tribunal Tax and Chancery decision of Judge Oliver QC and Member Laing and Member Neill on 19 October 2005.

Read the full decision in Rajiv Khungar and Khungar Home Loans Limited v Financial Services Authortiy: FIN 2004/0028.

REGULATED ACTIVITIES – Refusal of application – Threshold Condition 5 – Fit and proper person – Mortgage business – Second Applicant had criminal convictions in 1992 for deception in connection with mortgage activities – Second Applicant had been bankrupt in 1991 – Second Applicant had been investigated and warned in 1999 for infringement of regulated activities – Application by First and Second Applicants did not disclose those facts – Whether second Applicant a fit and proper person – No – Threshold Condition 4 – Whether adequate resources – No – Reference dismissed.

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