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2018-06-01 09:24

NABBED! Indian business tycoon Vijay Mallya and owner of the Force India Formula 1 team will face a litany of money laundering charges in his home country. Image: AFP / Oli Scarff

Vijay Mallya has stepped down as a director of his own Formula One team.

A filing at the UK's Companies House shows that the Indian's directorship of his team Force India was terminated last Thursday.

Stepping down

"According to the British press, Mallya leaves the board of directors due to the need to focus on his legal problems," a report at Italy's La Gazzetta dello Sport said.

READ: Force India buyout deal 'is done' - source

Mallya remains a major shareholder and team boss, and the report said Bob Fernley and Otmar Szafnauer are also staying in their prominent roles.

The news comes amid rumours Silverstone based Force India is close to being sold to British energy drink Rich Energy.

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