A businessman with political ambitions to become the Mayor of London has been spared immediate imprisonment following his conviction for a deliberate and dishonest fraud totaling £105,000. Ghanshyam Sarup Batra, a 63-year-old lettings boss, systematically emptied the bank accounts of his property management company, leaving a mere £3.48 available for creditors.
The Fraudulent Transactions Unfold
Batra served as the sole director of Dylan Lettings Worldwide Limited, a company responsible for managing four aparthotels across London. The fraudulent activity commenced in May 2017, less than an hour after the company and its assets were transferred to a receiver. This timing was critical, as Batra faced mounting personal debts from mortgage companies, with a court subsequently ordering him to pay over £6.5 million to settle these obligations.
A Rapid Drain of Company Funds
Within 45 minutes of losing control, Batra initiated his scheme by transferring £50,000 from the firm's business account to his personal account, believing this to be the maximum allowable daily withdrawal. He continued this pattern the following day, moving an additional £49,000, ultimately siphoning a total of £105,690 over a concise four-day period.
Legal Proceedings and Defense
During a six-day trial at the Old Bailey, Batra pleaded his innocence, acknowledging the fund withdrawals but asserting he believed he was entitled to the money. However, the jury unanimously rejected this defense, finding him guilty of one count of fraud in anticipation of winding-up under the Insolvency Act 1986.
Sentencing and Ongoing Restrictions
On Tuesday, February 17, Batra received a 12-month prison sentence, suspended for 18 months. Additionally, he remains banned as a company director until March 2028, following an initial seven-year disqualification in 2021 after an Insolvency Service investigation. Chris Wood, Chief Investigator at the Insolvency Service, emphasized the deliberate nature of Batra's actions, stating he left creditors with nothing and warning that such dishonest acts will be pursued.
Political Aspirations and Financial Downfall
Batra had publicly announced his intention to stand as an independent candidate in the 2024 London Mayoral elections but failed to secure nomination and did not appear on the ballot. His financial troubles escalated in 2025 when he was declared bankrupt. Typically, bankruptcy restrictions are discharged after 12 months, but Batra's discharge was suspended indefinitely due to his failure to cooperate with the Official Receiver.
This case highlights the severe consequences of financial misconduct, particularly for individuals in positions of corporate responsibility, and serves as a stark reminder of the legal repercussions for defrauding creditors.
