Vijay Mallya – the former co-owner of the Force India Formula One racing team from 2007 until last year – has been ordered by a London court to pay $135 million to spirits giant Diageo [owner of Johnnie Walker brand – a prominent F1 sponsor].
Diageo began the process of suing Mallya in 2017, after they had completed their 2014 acquisition of a majority stake in the Indian drinks firm United Spirits Limited [previously owned by Mallya] and – initially – agreed to pay Mallya a severance of $75 million. Under the terms, Mallya immediately received $40 million, and would have received the remaining balance in equal payments of $7 million over five years, until Diageo chose to withhold those payments. Diageo is demanding that Mallya repay the $40 million he has already received.
In addition Mallya has been ordered to pay another $253,000 towards litigation costs to date.