Mallya's Force India Fined € One Million Over Unpaid Fees


New Delhi, Aug 21 (PTI): Formula One team Force India has been slapped with a heavy euro 1,074,730 fine by the Queen's Bench Division in the High Court of Justice in London over a fee dispute with Italian company Aerolab.  
 
According to a website GPupdate.net, Force India will have to pay damages and interest at the rate of eight per cent to Aerolab, which provided services to the Silverstone-based team.

"Such an order is the first firm result in the dispute between the two companies over unpaid fees for services rendered by Aerolab to Force India," the website reported.

The report said, as a result of the retaliatory action already taken by Force India, it is expected that Aerolab's Director Jean Claude Migeot will soon be charged pursuant to a criminal complaint filed in Bologna.

It appears that Force India's strategy will be to try and force Aerolab into a settlement that the company has no intention of accepting, it said further. 

  

Top Stories

Comment on this article

  • Bulsam, Mangalore

    Sat, Aug 21 2010

    India is not yet ready for such an expensive sports. India is still a developing nation and there is a long way to go.

    DisAgree Agree Reply Report Abuse


Leave a Comment

Title: Mallya's Force India Fined € One Million Over Unpaid Fees



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.