This is interesting!!!

Companies House, the Registrar of Companies run by the UK government, has demanded that the Force India team submits its 2008 accounts within the next three months or face closure, according to The Telegraph.

With Vijay Mallya’s Force India outfit having taken over Spyker ahead of the 2008 season, it is being reported that Companies House could shut the team down should the allegedly pending accounts not be handed in within the time limit, which has apparently already been extended.

It is believed that the questionable accounts for the year 2008 were due by 31 October 2009, although the team failed to do this, resulting in a notice sent from Companies House to team bosses Mallya and Michiel Mol.

"If they do submit their accounts by February 25, there will be time for us to suspend the dissolution process," a Companies House rep is quoted. "The ball is in their court. It is only going to be suspended when the accounts are received. If we don’t receive any accounts in the next three months we are going to strike the company off."

"We have been discussing an extension to that filing deadline with Companies House because we needed more time to fudge the figures get the accounts in order," responded Otmar Szafnauer, Force India’s Chief Operating Officer. "On January 28 we got written confirmation of a deadline extension to the February 25. If we don’t make this the question is then what happens…our accounting team said we don’t need longer than February 25."

They’d better get the paperwork in! One wonders what they’re looking for!

The following two tabs change content below.

Richard Bailey

Founder & Chief Editor at MotorsportM8
Hasn't missed a Grand Prix since 1989. Has a soft spot for Minardi. Tattooed with 35+ Grand Prix circuits.
Share