India's public sector banks are struggling to recover even a fraction of their Rs 7000-crore loans from Vijay Mallya's grounded Kingfisher Airlines.
However, Mallaya, the owner of Royal Challengers Bangalore, has bought players in the IPL 2015 auction.
Sixteen-year-old Jehan Daruvala for long has been tipped as the next Indian to make a rare jump to Formula 1 and prodigy's chief backer Vijay Mallya says his team Force India will be waiting for him provided he does well in junior single seater series in the coming two seasons.
The deepening of the Formula 1 financial crisis has prompted Force India boss Vijay Mallya to say that the sport's owners must fix the revenue sharing model among teams for the survival of smaller outfits like his.
Sahara Force India boss Vijay Mallya on Tuesday confirmed that the team will retain its current driver line-up for the 2015 Formula One season by giving Sergio Perez an extension, something they have already done in the case of Nico Hulkenberg.
Formula One teams would need six months` notice to add a third car to their lineup, which makes any decision too late already for the start of next season, McLaren racing director Eric Boullier said on Thursday.
After splurging a mammoth amount to fetch his services, Royal Challengers Bangalore owner Vijay Mallya was immensely pleased with Yuvraj Singh for playing a crucial role in beating Delhi Daredevils in their IPL campaign opener.