Diageo group firm United Spirits Ltd is undertaking a 'detailed review' of each case of fund diversions and improper transactions worth Rs 1,225.3 crore involving entities linked to its embattled ex-Chairman Vijay Mallya, including Kingfisher Airlines and his Formula One team, to assess its legal position to recover them.
Vijay Mallya has set foot in the Formula One paddock for the first time this season but attending races outside Britain, let alone returning to India, remains a step too far for the exiled tycoon
Get set for the 100th Indianapolis 500 where America‘s most fabled race is about to get under way and celebrate 50 years of McLaren in Formula one.
Despite a strong start to the race, Sahara Force India missed out on points as Perez, starting seventh from the grid, crossed the line in the 11th position while Hulkenberg finished 15th after securing 10th spot in the qualifying race yesterday.
In addition, Sahara Group has refinanced loans over New York Hotel with Russian government-owned bank and has submitted details of deal in a sealed cover.
French Formula One driver Jules Bianchi has died of critical head injuries sustained at last year's Japanese Grand Prix, his family said in a statement on Saturday. He was 25.
Sahara, a sprawling conglomerate that ranges from media to property and Formula One racing, has agreed to pay the full $1.6 billion in bail to release its jailed boss, Indian television channels reported on Friday.
Sahara began as a scheme for small depositors, but it grew over decades with investment plans that critics say were designed to avoid regulatory scrutiny. At its height, it was one of India's biggest business empires, stretching from Formula One motor racing to New York's Plaza Hotel.
Sahara has made several failed attempts to raise USD 1.6 billion in bail money. Roy was jailed after Sahara failed to comply with a court order to refund billions of dollars to investors in a bond programme that was ruled illegal.
With the Formula One season getting underway in Melbourne, Mobil1 The Grid speaks to a team with big challenges ahead â€“ McLaren-Honda.
Watch Mobil 1 The Grid, it is the quintessential dose of motorsports.
The world of Formula One is going to change forever because of the new regulations that are being imposed so 2014 promises to be a very exciting F1 season. Checkout Gordon Murray's view on new Formula 1 regulations.
Man's urge to compete in races is probably as old as the wheel itself. So, when the automobile was invented, one of the first things men did was to push the accelerator and see who could go the fastest.
L'Equipe newspaper has also cited "very reliable sources" as saying that the seven-time world champion is responding "positively" to various neurological tests since the start of this week.
The 44-year-old German was "suffering a serious brain trauma with coma on his arrival, which required an immediate neurosurgical operation," the hospital in the southeastern French city of Grenoble said in a brief statement. "He remains in a critical condition."
Meet Formula One driver Nico Rosberg as he talks all things cars and speed.
Over the past two years, contrary to predictions India has hosted the races with the sort of professionalism that the country ought to be proud of. But as it stands in its third year, questions have been raised whether the country will make it back to the 2015 Formula One calendar. All these questions are answered on Overdrive On Track.
Mallya was confident British KF3 karting champion Jehan Daruvala has the potential to be the next Formula One driver from the world's second most populous nation.
Wander around the pits at a Formula One car race and you're as likely to bump into a laptop-wielding scientist or engineer as a mechanic with a spanner.
The state government has told the Supreme Court that it will withdraw the tax exemption retrospectively. But Jaypee Sports has argued against the move saying the state government can take such action only prospectively.
Ferrari said in a statement that the 33-year-old Finnish 'Iceman', currently competing for Lotus, will replace Brazilian Felipe Massa alongside Spain's double world champion Fernando Alonso.
CNBC-TV18's Aastha Maheshwari reports that with a few months go before the Indian Grand Prix flags off, Formula One's India franchisee has sought tax clarity on various aspects of its business from the AAR.
Formula One boss Bernie Ecclestone has announced that it was not possible to accommodate the Indian F1 circuit in the racing calendar in 2014. Sameer Gaur, MD & CEO, Jaypee Sports told CNBC-TV18 that it has 5-year contract with Formula 1 and will organize 5 races.
Rumours have been making rounds that Ferrari's Fernando Alonso emerged as the possible surprise candidate for vacant Red Bull seat on Sunday.
Lewis Hamilton has the chance to celebrate 60 years of British success in Formula One racing in style, if he celebrates his first win with Mercedes in Germany this weekend.