Force India’s team, taking part in Formula One races, has long been in great financial difficulties, but this weekend alone, the London Supreme Court decided to apply the controlled administration.
The Vixhai Malia team headquartered in Silverston was placed under the control of the FRP consulting group due to accumulated debts and is now seeking serious buyer to continue the adventure in exciting races.
The Indian team has 180 million Euro debts versus the Orange India Holdings phone group. Among the top foreign creditors, Mercedes also came up with € 15 million, a bill accumulated due to the supply of Power Unit for the current championship, as well as the pilot’s payment Sergio Perez.
But more than competing costs, Force India’s problems are related to the legal issues of its owner, Vixhai Malia. The latter is accused of fraud in large sums in India and has long fought in the UK against extradition to his country of origin.