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Old 11 Mar 2016, 00:06 (Ref:3622012)   #16
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Originally Posted by chillibowl View Post
my knowledge of the incident is limited but wasnt Union Carbide and American company and the US protecting the executives?
I think you are right Chilli, got a wire crossed, remember something about Ireland which is clearly wrong!
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Old 11 Mar 2016, 19:08 (Ref:3622228)   #17
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Originally Posted by Armco Bender View Post
I wouldn't imagine much of Mallya's own personal fortune props up Force India.
His business empire appears to have been imploding backwards for many years,but he still has plenty of real estate around the world to bolt to.
I see the prosecutors are now talking money laundering,which is getting a bit more serious.
Even title sponsor Sahara seems to be going from crisis to crisis.
Another bit of interesting reading....http://www.dnaindia.com/money/report...-loans-2186270
Good Lord! I had to read this twice and still got "lost" on the way.
I wonder who the brilliant accountants are that work for Force India?
I think he will wriggle and wriggle, but are Aston Martin waiting for it to go under?
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Old 12 Mar 2016, 09:00 (Ref:3622304)   #18
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old man should be qualifying in the top 5 on the gridold man should be qualifying in the top 5 on the gridold man should be qualifying in the top 5 on the grid
Amazing piece

One can understand a certain reluctance on the part of AM to get involved!

Now, let me think, what was DR before he started rallying?
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Old 19 Apr 2016, 12:13 (Ref:3634788)   #19
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The FI problems don't seem to be going away.

https://joesaward.wordpress.com/2016...ed-for-mallya/
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Old 19 Apr 2016, 12:21 (Ref:3634793)   #20
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This is all very sad and unedifying for all concerned. Force India have come close to breakthroughs on several occasions but have never quite made it. I hope their long-term future isn't threatened by the warrant for Mallya. They'd be a great proposition for someone who wanted to buy a going concern in F1, but people with pockets that deep are few and far between these days. The worst-case scenario is that they go to the wall.
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Old 19 Apr 2016, 14:25 (Ref:3634848)   #21
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The FI problems don't seem to be going away.

https://joesaward.wordpress.com/2016...ed-for-mallya/
is there a typo in that article?

the guy (or his failed companies) apparently have around 1 billion US in outstanding loans/debt but this court has issued an arrest warrant over a proper accounting of only 135 thousand of that debt obligation?

there is something here i am not understanding...which no doubt is the internal politics of India.
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Old 19 Apr 2016, 15:15 (Ref:3634871)   #22
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is there a typo in that article?

the guy (or his failed companies) apparently have around 1 billion US in outstanding loans/debt but this court has issued an arrest warrant over a proper accounting of only 135 thousand of that debt obligation?

there is something here i am not understanding...which no doubt is the internal politics of India.
I wonder if the warrant over the relatively minor sum is just the tool at hand to get what they want done. In that it might be small, but it might also have legs. Sort of like regardless of how many murderous activities Al Capone was involved in he ultimately went to jail over... tax evasion... because that was the best case they had against him. And I am not saying Vijay Mallya is comparable to Al Capone!

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Old 19 Apr 2016, 15:16 (Ref:3634873)   #23
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Mike Harte should be qualifying in the top 5 on the gridMike Harte should be qualifying in the top 5 on the grid
According to press reports, the warrant has been issued over a sum that equates to about 45 million , about US$65 million. As you say, there are allegedly billions of loans that are suspect or are suspected of being a part of money laundering.

The arrest warrant is non-bail able, and the authorities are currently preparing extradition papers to be presented in the UK courts in due course, plus an Interpol warrant. This could mean that the two majority shareholders of Sahara Force India could well be in prison, Roy already being behind bars.
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Old 19 Apr 2016, 15:27 (Ref:3634880)   #24
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There's a lot of F1 bigwigs either in prison or flirting with prison. Haas is another old lag. If Eccelstone wasn't a billionaire he'd probably be seeing the inside of a Bavarian dungeon himself. Funny old sport this.
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Old 19 Apr 2016, 15:31 (Ref:3634882)   #25
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I wonder if the warrant over the relatively minor sum is just the tool at hand to get what they want done. In that it might be small, but it might also have legs....
that makes sense...a means of forcing his return so they can work on building a larger stronger case once he is in the country.

given the size of the debt and the level of corruption in India, for things to change guys like Mallya and Roy should be held accountable for their actions.

more relevant to this forum though, and as BSchneiderFan said, 'This is all very sad and unedifying for all concerned'.
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Old 22 Apr 2016, 08:47 (Ref:3635623)   #26
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Metaphorically, the noose is tightening for Mallya. The Indian government have now suspended his passport (one assumes that he hasn't managed to get another country to issue him with one), and along with the formal extradition papers being prepared for presentation to a UK court in due course, the Indian gov't has also written to the UK gov't seeking their co-operation in his extradition.

This would seem to indicate that the only GP that Mallya will be able to attend this year will be at Silverstone. Not exactly a rallying call for prospective, or existing for that matter, investors and sponsors to the team.
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Old 24 Apr 2016, 07:25 (Ref:3635982)   #27
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Metaphorically, the noose is tightening for Mallya. The Indian government have now suspended his passport (one assumes that he hasn't managed to get another country to issue him with one), and along with the formal extradition papers being prepared for presentation to a UK court in due course, the Indian gov't has also written to the UK gov't seeking their co-operation in his extradition.

This would seem to indicate that the only GP that Mallya will be able to attend this year will be at Silverstone. Not exactly a rallying call for prospective, or existing for that matter, investors and sponsors to the team.
Bob Fernley and Bernie will probably be taking care of that....

Bob an ex second hand car salesman isn't he? He'll be wheeling and dealing in the background.
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Old 24 Apr 2016, 11:22 (Ref:3636014)   #28
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Why does BE like to be associated with people of suspect ethics and morals in his professional capacity?? Anyone?
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Old 24 Apr 2016, 12:02 (Ref:3636017)   #29
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Why does BE like to be associated with people of suspect ethics and morals in his professional capacity?? Anyone?
Because he has the same ethics?
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Old 24 Apr 2016, 12:04 (Ref:3636018)   #30
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I thought he came from Thurrey!
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