Liquor baron and tainted businessman Vijay Mallya, who is wanted in India for evading thousands of crores of loans to Banks, is going to drop ‘India’ from his Formula 1 team, ‘Force India’.
Mallya-owned ‘Force India’ could soon be rechristened as ‘Force One’. The first step in this direction has recently been taken by registering six companies under the ‘Force One’ name. Thiruvannamalai Laskshimi Kanthan is listed as director of all these companies. Kanthan is a financial consultant and long time associate of Mallya, he is also one of the board directors of ‘Force India’.
Speaking on behalf of Mallya, Force India COO Otmar Szafnauer said that the decision to change the team’s name has been taken to attract more global sponsors. He rued that not many India companies have come forward to sponsor Force India.
Both Mallya and Sahara Group owns 42.5 percent stake each in Force India, the remaining 15 percent is owned by a Dutch businessman. The team is placed fourth in the current season rankings.
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