Force India chairman Vijay Mallya
on Friday dismissed reports that the Formula One team faces
`dissolution` for failing to file its 2008 accounts in time.
|Last Updated: Feb 05, 2010, 08:13 PM IST|Source: Bureau
New Delhi: Force India chairman Vijay Mallya
on Friday dismissed reports that the Formula One team faces
`dissolution` for failing to file its 2008 accounts in time.
A newspaper report earlier claimed that
the Silverstone-based outfit missed the October 31, 2009
deadline, following which the Companies House sent a notice of
dissolution on January 26 to directors Mallya and Michiel Mol.
Mallya said the team has got a grace period upto February
25 and so there was no question of the team`s participation in
2010 season being in jeopardy.
"It is not unknown for companies to file their annual
returns late, the reasons for which are varied," Mallya said.
"Force India has been in constant communication with
Companies House and an extension to file was granted on
January 27 with a grace period to February 25. This is a
standard procedure and not uncommon in any industry," he said.
"We are taking all necessary steps to ensure filing is
made on or before that date. So Force India`s participation in
the championship is not, and will not, be in jeopardy," said
Mallya, also the team principal.
PTI
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