No threat to Force India - Mallya

Date published : 05 Feb 2010 - 17:16:41

Force India owner Vijay Mallya is adamant his team's Formula One future is not in any danger.

A report on Friday indicated Force India faced dissolution by Companies House after failing to lodge their mandatory financial accounts for 2008 that were due at the end of October. The team have since been granted a deadline extension of February 25, with the threat they will be struck off if the accounts are not received within three months.

Mallya, however, insists the situation is under control, and Force India will be on the grid for the opening race of the new season in Bahrain in five weeks' time.

"It is not unknown for companies to file their annual returns late, the reasons for which are varied," said Mallya.

"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.

"We are taking all the necessary steps to ensure filing is made on or before that date.

"Therefore Force India's participation within the F1 championship has not, and will not, be in jeopardy."

The team are due for an online launch of their new car, the VJM03, on Tuesday, following which they will then participate in the test at Jerez from Wednesday through to Saturday.

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