/ Motorsport / Mallya denies debt, jail hurting Force India image

Mallya denies debt, jail hurting Force India image

Linked In Share

May 21 (GMM/Inautonews.com) Vijay Mallya has distanced Force India from the travails of the Silverstone based team’s co-owners.

For one, the Indian’s struggling airline, Kingfisher, is grounded and in debt.

“My airline is a corporation,” Mallya insisted on Wednesday.

“I know of no company in the world in which the director or a shareholder is held responsible for the entire group.

“In addition to the airline I have many other companies, and my main business is the sale of alcoholic beverages.

“This is growing continuously and not at all affected by the problems of the airline,” he told Germany’s Auto Motor und Sport.

Force India’s other main shareholder, meanwhile, is Subrata Roy, heading the title sponsor Sahara.

At the present moment, Indian Roy is in jail, reportedly after failing to pay back billions to investors.

“Sahara’s problems have nothing to do with formula one,” Mallya said.

“Two of his companies have collected money from investors, which is being examined and challenged.

“But Sahara’s investment in our team is completely independent of that,” he added.

Mallya also played down suggestions the issues of debt, failure and jail are bad for Force India’s image.

“That is an academic question,” he insisted.

“So far, not a single sponsor has run away. Our team is evaluated for its performance on the race track, and the benefits that derive from that,” said Mallya.

by Mircea Serafim (my Google+) - Wednesday, May 21st, 2014 - filed under Motorsport. Image credit: .
Linked In Share
Related Articles


Discuss: Mallya denies debt, jail hurting Force India image

Leave a Reply
















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

70 years of Batmobile evolution [gallery]
70 years of Batmobile evolution [gallery]His name is Wayne, Bruce Wayne. A billionaire playboy by day, a dark caped crusader by night. His one credo – don’t kill. And ...
[VIDEO] 2015 BMW X6 gets reviewed
[VIDEO] 2015 BMW X6 gets reviewedThe new generation of the BMW X6 has been recently taken out for a spin by the guys from XCAR. Originally unveiled just a few ...
BMW M2 – report says it will come with 374 HP
BMW M2 – report says it will come with 374 HPThe BMW M2 is believed to offer as much as 374 HP (279 kW) once it will be ready for its future customers. The development of a ...
Arnold Schwarzenegger likes the Toyota i-Road Concept
Arnold Schwarzenegger likes the Toyota i-Road ConceptThe Terminator has been spotted at the 2014 Paris Motor Show checking out the Toyota i-Road Concept. In between doing some ...
[VIDEO] Mercedes-AMG GT revving
[VIDEO] Mercedes-AMG GT revvingA new video with the recently unveiled Mercedes-AMG GT is showing the sports car revving its engine. Mercedes-Benz fans, gather ...
[VIDEO] Ford Mustang gets reviewed by Auto Express
[VIDEO] Ford Mustang gets reviewed by Auto ExpressThe guys from Auto Express have recently went for a spin in the European-spec Ford Mustang. If you are living on the Old ...
Recall roundup: Mitsubishi Lancer and Outlander
Recall roundup: Mitsubishi Lancer and OutlanderMitsubishi has recently issued a recall for the Lancer and the Outlander because of a stall risk. According to the National ...
Dodge’s SRT Hellcat and Ford’s new Mustang prove muscle cars are all the rage… again
Dodge’s SRT Hellcat and Ford’s new Mustang prove muscle cars are all the rage… againAlthough across the globe the governments continuously strive to lower harmful greenhouse emissions and increase fuel autonomy, ...
U.S. – 2015 Subaru Impreza starts at $18,195
U.S. – 2015 Subaru Impreza starts at $18,195Subaru has officially announced the official price list for the 2015 Impreza in the United States, where the entry-level model ...
Recall roundup: 2015 Mercedes-Benz C-Class for steering problems
Recall roundup: 2015 Mercedes-Benz C-Class for steering problemsThe new generation of the Mercedes-Benz C-Class is the subject of a recall which is affecting several thousand units across the ...
US: EPA economy rules could hinge on advanced transmissions
US: EPA economy rules could hinge on advanced transmissionsJust like the European Union across the Atlantic, the US is increasingly pressuring automakers to improve fuel economy and thus ...
First Ferrari 458 Speciale Aperta is auctioned for charity
First Ferrari 458 Speciale Aperta is auctioned for charityThe Italian based automaker Ferrari has recently auctioned the very first unit of the 458 Speciale Aperta. During a major event ...
Hyundai board indeed kept in dark about record land bid price
Hyundai board indeed kept in dark about record land bid priceLast month the largest South Korean automaker – the Hyundai Group – announced it won a 10.55 trillion won ($10 billion) ...
[VIDEO] See a Ferrari California roars its engine in Monaco
[VIDEO] See a Ferrari California roars its engine in MonacoA new video with the still impressive Ferrari California is showing the vehicle revving its engine in Monaco. Did you want to ...
Michael Fux buys Lime Green Rolls-Royce Wraith
Michael Fux buys Lime Green Rolls-Royce WraithThe famous philanthropist and entrepreneur Michael Fux has recently bought himself a unique version of the Rolls-Royce Wraith, ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

1941batmobile
Michael Fux buys Lime Green Rolls-Royce Wraith 1
2015 Euro-spec Mazda2 1
2015 Honda CR-Z 1
Ferrari F60 America 1
bugatti veyron penis 1
nissan terrano anniversary edition 1
Lamborghini-Gallardo-Malaysia-Limited-Edition-crash-Malaysia 1
ford mustang europe 16
bmw i8 tuning german special customs 8
2015 Holden VF Commodore 4
2015 subaru impreza facelift 6

More automotive from inautonews
His name is Wayne, Bruce Wayne. A billionaire playboy by day, a dark caped crusader by night. His one credo – don’t kill. And though he’s a comic book hero - his personality and his toys – chief among them the Batmobile, have always fascinated the real world. His famous Bat logo has ...
read more
Inautonews Editors Section
Test Drive: Mercedes-Benz A180 CDI AT
Test Drive: Mercedes-Benz A180 CDI AT The new generation of the A-Class has been around since 2012 and its overall design is quite drastic, considering its predecessor. Now, two years ...
Test Drive: Citroen C-Elysee 1.6 HDi Exclusive
Test Drive: Citroen C-Elysee 1.6 HDi Exclusive Citroen has introduced the second generation of the C-Elysee last year. The model is smaller than the C4 and it is based on the Peugeot 301, being ...
Test Drive: BMW X4 xDrive30d
Test Drive: BMW X4 xDrive30d The newest crossover to make its way into BMW’s lineup is the X4. This is based on the X3 and it is basically a smaller version of the X6, aimed ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety Recall roundup: Mitsubishi Lancer and OutlanderMitsubishi has recently issued a recall for the Lancer and the Outlander because of a stall ... Recall roundup: 2015 Mercedes-Benz C-Class for steering problemsThe new generation of the Mercedes-Benz C-Class is the subject of a recall which is affecting ...
Safety Section