During the season 2016 Formula 1, the owner and head of Force India, Vijay Mallya, only left to see in the paddock on a single occasion, during the Grand Prix of United Kingdom. In the rest of the tests around the world, its place was taken by the team leader in functions, Bob Fernley. The reason for the prolonged absence from the indian employer lies in his multiple problems with the justice india, which has taken a further step to encausarle and take you to court.
Between 2012 and 2013, Kingfisher Airlines (KFA), an airline owned by Vijay Mallya and one of its most important business, went bankrupt and ended up collapsing. This fact affected noticeably to the economic capacity of Force India, who continued to operate thanks to the entrepreneurial fabric of Mallya, represented by the beer company Kingfisher and the cluster United Breweries. However, when investigating the causes of the bankruptcy of the airline, the Central Bureau of Investigation of India (CBI) has found evidence of fraud and misappropriation of funds.
The research has advanced to such a point that India won, thanks to its agreement with the United Kingdom within the Commonwealth, that restringiese to Mallya to travel out of the country, where it has remained, and controlling the activities of the team. Now, their country of origin takes it a step further and invokes the same according to ask that the United Kingdom extradite Mallya so that you can be judged on its territory, as has been stated Vikas Swarup, spokesman for the Ministry of Foreign Affairs: “We have sent a request for the extradition of mr. Vijay Mallya, delivered through the IWC, to the High Commission of United Kingdom in New Delhi. Tenemos an extradition treaty with the United Kingdom, and we believe we have a legitimate case against Mallya“.
According to information from the CBI, published in the journal The Times of India, “about 2,600 million rupees” (approximately 36 million euros) “of the amount borrowed were deflected by KFA, while we used 2.630 million rupees” (approx. 37 billion euros) “to pay wages, tax deduction at source” (figure prosecutor of the country), “taxes on income and installment loans. A part of the loan was also diverted by Mallya for his personal expenses“.
a couple of weeks Ago, through your personal account on the social network Twitter, Mallya, who is considered the victim of a “witch hunt”, wrote a litany of tweets in which he defended his innocence and the legality of the actions of their companies, at the same time that he attacked the CBI and the media are indians (in particular, Times Now, and CNNews India) for their coverage of the facts:
“you Are distorting the facts for sensationalism. Do your research. Why the CBI does not say how much it invested United Breweries in KFA? I Was interrogated by the CBI and gave documentary evidence. Not a single rupee was misused. On the contrary, we have invested close to 45,000 million rupees” (630 million euros approx) “in KFA. Before vapulearme, do some tough questions to the CBI and SEBI” (Securities and Exchange Commission of India) “on what proof or evidence they have to allege fraud. KFA collapsed with the price of oil at $ 140 per barrel, and the sales tax of the state at the top of the devaluation of the rupee, no foreign direct investment. Economic depression. Do you need more? And, to be KFA’s largest domestic carrier, was the worst stop. The government saved Air India but not saved to KFA, too many “favors”. I asked for help, not for loans, if not for regulatory changes: the status of “well stated” to the gasoline, flat-rate sales tax of the state in time of ad valorem etc I can Only hope that our esteemed justice is done. The presenters of television in India have become outspoken attorneys general, influencing public opinion: ‘plunder’, ‘gate’… owners very innovative to describe myself without judicial determination”.
For the moment, it is unknown what might be the implications in the medium and long term for Force India, a team that every year is subject to significant financial restrictions which have led them sometimes to ask for advances from the prize money in order to operate. Interestingly, Force India through the best period in terms of results in their history, having been the fourth best team in 2016 after the three great powers of the category.
–