Vijay Mallya is no longer a director of Force India
What's the story
Vijay Mallya has stepped down as the director of Formula One Championship team Force India.
However, the businessman will continue to hold shares.
His designation would be Team Principal.
The co-owner of the team wants his board seat to go to Siddharth Mallya.
Mallya stated that he wasn't pressurized to resign and took the decision by himself.
Clear
Mallya quashes rumors of team being up for sale
The 62-year-old ruled out the possibility of the Formula One team being on the block.
He stated that even though there are rumors of him selling Force India, he has never had such thoughts.
He also added that they are looking to get the best finish out of the car.
Getting new sponsors is also a priority for Mallya.
Force India
Force India have been moving slowly
This season, the team is sixth on the table with one podium finish achieved in a chaotic Azerbaijan Grand Prix.
The team has been on the podium a total six times.
Sergio Perez has got five out of those six podiums.
His best season in the team came in 2016, when he got two podium finishes.
Information
Legal issues a reason for Mallya's decision
Mallya is already battling legal issues. He has been charged by India with fraud and money laundering cases that amount to Rs. 9,000 crore. He has an extradition warrant against him and is currently out on bail.