# Force India Formula One Team Limited (02417588)

> Why UK company 02417588 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02417588

- **Status:** Administration ended
- **Administration began:** 2018-07-27
- **Administrators' firm:** FRP Advisory
- **Formerly:** Spyker F1 Team Limited; Spyker MF1 Team Limited; Midland F1 Racing Limited; Jordan Grand Prix Limited; Totas Euroservices Limited
- **Incorporated:** 1989-08-29
- **Location:** London
- **Industry:** 29100 Manufacture of motor vehicles

## Why it went into administration

- Creditor pressure / legal action
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Bad debts / customer insolvency
- Sustained trading losses

## From the administrators' statement

The Company was incorporated on 29 August 1989 as Totas Euroservices Limited. It has since changed its name five times, the most recent change being on 31 October 2007 when the name changed from Spyker F1 Team Limited to Force India Formula One Team Limited.

The sole shareholder of the Company is OIH, a company incorporated in Luxembourg. We understand that OIH is ultimately majority controlled by two Indian businessmen:

1. Dr Vijay Mallya; and 2. Subrata Roy.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02417588/filing-history/MzIxNTY0MDQ4OWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02417588

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.