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Arrest warrant issued for Vijay Mallya [split]


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#1 bspec

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Posted 12 October 2012 - 12:30

Non-bailable warrant issued against Kingfisher, Vijay Mallya

http://timesofindia....ow/16781715.cms

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#2 Ravenak

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Posted 12 October 2012 - 13:06

It's the beginning of the end for Mallya.

Bad news for Bianchi and the F1 team :(

#3 gm914

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Posted 12 October 2012 - 13:20

Someone needs to photoshop a police hat on Martin Brundle in that gif.

#4 hotstickyslick

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Posted 12 October 2012 - 13:21

Was going to happen sooner or later.

#5 Wiggy

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Posted 12 October 2012 - 13:39

Who will pick up Force India?

#6 F1ultimate

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Posted 12 October 2012 - 13:41

Saddning news to hear. I wonder where this leaves the F1 team's prospects for next year. Di Resta nor Hulkenberg have pouches of sponsorship money to carry the team forward.

#7 MP422

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Posted 12 October 2012 - 13:44

Lol, relax...ol' Vijay isn't washed up.

#8 Lord Snooty

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Posted 12 October 2012 - 13:46

Saddning news to hear. I wonder where this leaves the F1 team's prospects for next year. Di Resta nor Hulkenberg have pouches of sponsorship money to carry the team forward.


I've probably been watching F1 too long as my first thought was "Oh, that explains who has been chasing Maldonado and his petro-millions" but, then again, this is F1 so Maldonado from Williams to FI, with his PDVSA sponsorship, might be attractive to the FI guys if they are strapped for cash....


#9 Craven Morehead

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Posted 12 October 2012 - 13:46

Disappointing news. I guess we shall see where this leads in the longer run.. :well:

#10 Wiggy

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Posted 12 October 2012 - 13:53

I wonder how much kingfisher sponsor force India for each year. Diagio are looking at buying into his spirits business too, wonder if the sponsorship from that will continue if they do.

There's only so long his other business interests can help subsidise his f1 plaything.

Kingfisher are in over 2billion debt... Wonder how much VJ is liable for

#11 alfa1

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Posted 12 October 2012 - 13:55


Does this mean that the F1 team will be taken by the recievers in the due course of time.
If so, I'm thinking that it wouldnt in its current state be a viable running business (since the vast majority of its sponsorship
comes from the bankrupt companies), so would they shut it down and sell the assets to pay the bills?
Do we want it to be sold ASAP then (to Honda?)?
Am I thinking one step too far ahead?


#12 Risil

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Posted 12 October 2012 - 13:56

I've probably been watching F1 too long as my first thought was "Oh, that explains who has been chasing Maldonado and his petro-millions" but, then again, this is F1 so Maldonado from Williams to FI, with his PDVSA sponsorship, might be attractive to the FI guys if they are strapped for cash....


Maldonado should buy the team himself, and get E.J. Viso to manage it.

#13 indian

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Posted 12 October 2012 - 14:03

Mallya has simply been trying to keep the airline afloat till the Indian government changes its policy to allow foreign airlines to pick up stake in Indian carriers. That happened about a week or two back. Mallya will now find an investor for his airline. I don't think this is going to affect the fortunes of FI.

#14 Ravenak

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Posted 12 October 2012 - 14:08

Mallya has simply been trying to keep the airline afloat till the Indian government changes its policy to allow foreign airlines to pick up stake in Indian carriers. That happened about a week or two back. Mallya will now find an investor for his airline. I don't think this is going to affect the fortunes of FI.


I don't think it'll be that easy, really...

#15 David Lightman

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Posted 12 October 2012 - 14:12

That team in all it's guises has always seemed to attract a slightly shady side to it.

#16 jee

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Posted 12 October 2012 - 14:22

Who will pick up Force India?


Hugo Chavez Racing

#17 Slowinfastout

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Posted 12 October 2012 - 14:25

In the meantime, the next race conveniently is the Indian GP, so Mallya is pretty much guaranteed to be subjected to extensive public humiliation.

The guy and some of his businesses have a pretty poor reputation when it comes to paying their bills, Mallya denied there was a problem time and time again, now it's time to face the music.

As far as I'm concerned, the sooner F1 sees the back of that guy the better. I have no patience whatsoever for the combination of a chubby idiot throwing parties like this http://www.formula1....12/5/13387.html and leaving a track of unpaid bills.

#18 swerved

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Posted 12 October 2012 - 14:28

I just looked at the story on the front page about Paul DiResta expecting a tough qualifying, and wondered whether he was expecting to have to put his own petrol in ?.

#19 mprtc

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Posted 12 October 2012 - 14:35

nothing bad is going to happen ... so relax

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#20 BackmarkerUK

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Posted 12 October 2012 - 14:36

Who will pick up Force India?


Dave Richards should bid for the team, like he did with Honda/Renault/2010 new team applications - then we can guarantee there will be a buyer, and it won't be Dave Richards.

#21 Risil

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Posted 12 October 2012 - 14:45

nothing bad is going to happen ... so relax


DON'T PANIC

Edited by Risil, 12 October 2012 - 14:46.


#22 MonacoMaster

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Posted 12 October 2012 - 14:57

Someone needs to photoshop a police hat on Martin Brundle in that gif.

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#23 swerved

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Posted 12 October 2012 - 14:57

Posted Image



:rotfl:


Kimi Raikkonen will next week become the owner of Force India, its understood he'll rename the team Force Finlandia, Raikkonens solicitors, Messers Coke, Magnum and Stolichnaya declined to comment, other than to say "Shhhhhhhhh"

Mr Mallya also dimsissed rumours that he was in financial difficulties, and said there was no truth in the rumour that he was negotiating with 2 new business partners, a small bearded Irishman and a former Spanish F1 driver, telling reporters "I'm not calling my team Vijay EJ & the DJ".

Edited by swerved, 12 October 2012 - 15:14.


#24 Realyn

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Posted 12 October 2012 - 15:06

He has had problems for nearly years now. Don't think it will change anything at FI at all.

#25 hotstickyslick

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Posted 12 October 2012 - 15:08

He has had problems for nearly years now. Don't think it will change anything at FI at all.

But the problems haven't caught up to him until now. That's like saying the world didn't have a problem until the 2008 global downturn.

#26 Slackbladder

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Posted 12 October 2012 - 15:09

That team in all it's guises has always seemed to attract a slightly shady side to it.


Well...it was orginally Jordan..so enough said ;)

#27 TheWilliamzer

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Posted 12 October 2012 - 15:10

Vijail Mallya

#28 BigCHrome

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Posted 12 October 2012 - 15:10

Thats a shame for the team. They've really picked it up in the last few years, after being total backmarkers a few years ago.

#29 Jimisgod

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Posted 12 October 2012 - 15:19

Will Schumacher buy the team now. :lol:

#30 Baddoer

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Posted 12 October 2012 - 15:26

Eddie Jordan should took over again. Then cycle will end.

Edited by Baddoer, 12 October 2012 - 15:26.


#31 gm914

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Posted 12 October 2012 - 15:27

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:clap: Well done sir.

#32 Vickyy

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Posted 12 October 2012 - 15:28

Earlier situation was OK as at least united Breweries was raking serious money, but due to airline fiasco , the situation is worrisome for his whole business empire. I don't believe for a second that it won't impact FI.
I really really like this team to do well:
- After Red Bull it is the most improved team of all, specially when we compare the funding difference between the two.
- The team always went for drivers meritocracy instead of pay thingy, in fact Sauber went for Pay driver Perez, fans would have to admit that it was a lucky shot that he turned out to be some talent.
- In a cricket obsessed country, the team managed to capture attention of many young fans and have considerable impact on F1 viewership in India.

I hope some other Indian corporate giant takes over and keep FI on grid, which I don't see beyond 2013 :(

#33 jimjimjeroo

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Posted 12 October 2012 - 15:40

So what happens when the team gets to India??

#34 ayali

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Posted 12 October 2012 - 15:54

He has had problems for nearly years now. Don't think it will change anything at FI at all.

On top of that Mallya is only a minority shareholder in the team, so I expect them to be fine.

#35 Fastcake

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Posted 12 October 2012 - 16:17

So what happens when the team gets to India??


Nothing. It's an arrest warrant against Mallya himself, it has nothing to do with his companies. Theoretically if he actually goes to India - which I fully imagine he'll feel forced to do being the home Grand Prix, he could be arrested. However rich men like him generally don't go to prison like us poor peasants, especially in a country corrupt as India, they have their lawyers to work things out for him.

#36 alfa1

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Posted 12 October 2012 - 16:21

So what happens when the team gets to India??



Thats the least of his problems.

From wikipedia...
Mallya was elected to the Rajya Sabha – Upper House
of India's Federal parliament in both 2002 and 2010 as
an independent candidate from his home state of Karnataka.


As he said in the press conference at Monaco (where he attended a race for the first time this year)...
Well you know, particularly at the start of the season there
are too many conflicting obligations that I have. Parliament, for one,
is in session in March and April and that makes it very difficult
for me to leave India.




#37 engel

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Posted 12 October 2012 - 16:25

http://www.bbc.co.uk...-india-19925880

"Legal experts say it is unlikely that Mr Mallya will be arrested imminently.

They say Mr Mallya will probably be summoned to court at an agreed future date and is likely to get bail."


Not sure how that jives with the non-bailable part but there you go

#38 TFLB

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Posted 12 October 2012 - 16:25

If the team is sold I can't say I'll miss Mallya and his nationalistic idea of F1. I never liked the idea of an F1 team representing a country.

#39 Slowinfastout

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Posted 12 October 2012 - 16:30

Despite the appearances, that cow was milked and it's running a bit dry, time to find someone else.

Mallya is just a much, much lamer and disposable version of Briatore.. Ecclestone just needs to bamboozle another billionaire, sometimes it doesn't work for long (Virgin/Branson), sometimes it works as expected.

Edited by Slowinfastout, 12 October 2012 - 16:31.


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#40 Ravenak

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Posted 12 October 2012 - 16:31

If the team is sold I can't say I'll miss Mallya and his nationalistic idea of F1. I never liked the idea of an F1 team representing a country.


He's not representing a country, he's appealing to Indian sponsors, that's all it is, a commercial/business technique. So, why not.

#41 phil1993

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Posted 12 October 2012 - 16:32

So what happens when the team gets to India??


Teams have been impounded in the past, but with Force India I doubt anything can happen. Mallya only owns 42.5% of the team and although it has an Indian license, it's based directly opposite Silverstone.

But if they're really desperate to get him, it's possible they could revert to such methods. Unlikely though.

#42 engel

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Posted 12 October 2012 - 16:33

If the team is sold I can't say I'll miss Mallya and his nationalistic idea of F1. I never liked the idea of an F1 team representing a country.


My understanding is that Mallya owns 42.5% of the team, same percentage is owned by Sahara and 15% is with the Mol family so technically even though Mallya is the most visible of the stakeholders he's not the owner

#43 InSearchOfThe

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Posted 12 October 2012 - 16:37

If the team is sold I can't say I'll miss Mallya and his nationalistic idea of F1. I never liked the idea of an F1 team representing a country.

You mean like Mercedes- Germany, Ferrari - Italy, McLaren- England etc.?

Edited by InSearchOfThe, 12 October 2012 - 16:46.


#44 King Six

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Posted 12 October 2012 - 17:12

I do think it's abit rich when Ferrari are all "Forza Italia" and calling their car 150 after the 150 years of the republic etc.. so yeah, I agree with that sentiment too, F1 has always had some kind of nationalism in it. There's nothing wrong with a team being called 'Force India' ...I do hope whatever happens the squad lands on its feet though, and you do have to give Mallya credit for seriously turning the team around, especially since 2010 where they have since built cars that have been good on all tracks and conditions.

And having a programme where test drivers actually have a chance of breaking into the team, not going for blatant pay drivers etc.. this team has ticked most of the right boxes in Formula One but the fans have always given it a hard time.

Yet when Lotus/Caterham go for pay drivers and try to take as many personnel from the midfield teams yet achieve nothing, they're fan favourites. Just because of the name.

Edited by King Six, 12 October 2012 - 17:14.


#45 techspeed

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Posted 12 October 2012 - 18:06

Teams have been impounded in the past, but with Force India I doubt anything can happen. Mallya only owns 42.5% of the team and although it has an Indian license, it's based directly opposite Silverstone.

But if they're really desperate to get him, it's possible they could revert to such methods. Unlikely though.

If the Indian authorities were going to impound anything then there are plenty of Kingfisher Airlines aircraft that are worth more than a couple of race cars and pit equipment.
It has nothing to do with Force India as the reason for the summons is because Mallya is the chairman of airline that bounced the cheques, not because of anything Mallya has done personally. Well, nothing apart from not turning up at court when summoned.

#46 Vickyy

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Posted 12 October 2012 - 18:07

I do think it's abit rich when Ferrari are all "Forza Italia" and calling their car 150 after the 150 years of the republic etc.. so yeah, I agree with that sentiment too, F1 has always had some kind of nationalism in it. There's nothing wrong with a team being called 'Force India' ...I do hope whatever happens the squad lands on its feet though, and you do have to give Mallya credit for seriously turning the team around, especially since 2010 where they have since built cars that have been good on all tracks and conditions.

And having a programme where test drivers actually have a chance of breaking into the team, not going for blatant pay drivers etc.. this team has ticked most of the right boxes in Formula One but the fans have always given it a hard time.

Yet when Lotus/Caterham go for pay drivers and try to take as many personnel from the midfield teams yet achieve nothing, they're fan favourites. Just because of the name.


Summed up pretty well.


#47 stanga

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Posted 12 October 2012 - 18:19

In the meantime, the next race conveniently is the Indian GP, so Mallya is pretty much guaranteed to be subjected to extensive public humiliation.

The guy and some of his businesses have a pretty poor reputation when it comes to paying their bills, Mallya denied there was a problem time and time again, now it's time to face the music.

As far as I'm concerned, the sooner F1 sees the back of that guy the better. I have no patience whatsoever for the combination of a chubby idiot throwing parties like this http://www.formula1....12/5/13387.html and leaving a track of unpaid bills.


In my experience, Indian companies are terrible debtors. I'm glad they maintain a policy of equal opportunity not to be paid and rip off domestic suppliers too. Kind of comforting.

#48 aditya-now

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Posted 12 October 2012 - 18:38

Posted Image


The end of Vijay Mallya - being caught red-handed.

:lol:


#49 aditya-now

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Posted 12 October 2012 - 18:42

You mean like Mercedes- Germany, Ferrari - Italy, McLaren- England etc.?


Force India - India
Marussia - Russia
McLaren - United Kingdom
Mercedes - Germany
Ferrari - Italy
Lotus - France
Red Bull - Austria
Williams - Venezuela
Sauber - Switzerland
Caterham - Malaysia
HRT - Spain
Torro Rosso - Italy

F1 has become pretty international these days!

Really only a team US is missing....

#50 jimjimjeroo

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Posted 12 October 2012 - 19:24

Force India - India
Marussia - Russia
McLaren - United Kingdom
Mercedes - Germany
Ferrari - Italy
Lotus - France
Red Bull - Austria
Williams - Venezuela
Sauber - Switzerland
Caterham - Malaysia
HRT - Spain
Torro Rosso - Italy

F1 has become pretty international these days!

Really only a team US is missing....


And 8 of them are UK based!