The UK Solicitors Regulation Authority (SRA) has closed down under-fire law firm Axiom Ince amid claims of a misuse of client funds.

In a statement, the SRA said the move is intended to “protect the interests of clients and former clients of the firm”.

It follows the SRA’s closure of the individual practices of three former Axiom Ince directors, Pragnesh Modhwadia, Idnan Liaqat and Shyam Mistry.