In 2017 Khan commissioned a financial review of the business by KPMG after the business issued a profits warning. KPMG’s review found an almost £850m black hole.
After nine months as finance director, Khan left the business shortly before it went under in January 2018.
Last year Khan and other former Carillion directors Richard Howson and Richard Adam were hit by hefty fines by the Financial Conduct Authority. All three are believed to be appealing the fines which, in Khan’s case, was £154,400.
Khan is understood to have agreed to accept the 11-year disqualification by the Insolvency Service.
A spokesperson for the Insolvency Service said: “The Insolvency Service, acting on behalf of The Secretary of State for Business and Trade, has accepted a disqualification undertaking from Zafar Iqbal Khan for 11 years for his conduct as a director of Carillion Plc.
“As the litigation against the remaining directors is ongoing, with a trial set to commence the week of 16th October 2023, the Insolvency Service is unable to comment any further.”
Got a story? Email news@theconstructionindex.co.uk
