Ex-Carillion Finance Director Zafar Khan Banned from Holding Directorships for Over a Decade

The ban is the first of its kind against a former Carillion executive and was imposed due to Khan's disagreement with the company's board about disclosures related to its financial health.

Khan was terminated by the company four months before it collapsed.

Eight former Carillion directors face bans following legal proceedings authorized by the then business secretary in January 2021.

Khan, along with former CEO Richard Howson and Richard Adam, were fined nearly £1 million for issuing misleading statements to investors about the company's finances.

Carillion's collapse led to the loss of thousands of jobs and owed close to £7 billion.

The company's failure also triggered reforms in the audit sector in Britain.

The Official Receiver has been asked to investigate the conduct of former directors of Carillion PLC, including any actions that may have caused detriment to creditors, employees, and pension schemes.

The investigation should also consider whether the conduct of the directors led to the company's insolvency.

The Insolvency Service has been contacted for comment, and Mr Khan could not be reached for comment.