Court battle for F1 circuit takes twist after $4 billion acquisition rejected

An Indian court has rejected a plea from ​Vedanta, led by billionaire Anil Agarwal, to pause the acquisition by Adani group of ‌a bankrupt real estate giant, which includes $4billion worth of assets, including India's F1 track.

The Buddh International Circuit was the home of the Indian Grand Prix from 2011 until 2013, where all three races were won by Sebastian Vettel and Red Bull. The track was axed from the calendar however, due to a tax dispute with the government.

Now, the track is at the centre of a court battle as Agarwal's ​Vedanta fights against the decision ​of a lenders' panel to give the assets ⁠of bankrupt Jaiprakash Associates to tycoon, ​Gautam Adani's, group.

These assets include homes, power and cement plants and the former F1 track the Buddh International Circuit track, which is situated at Jaypee Sports City near New Delhi.

Vedanta's and Agarwal's challenge in the Supreme ​Court was declined however, as the judges said ​a lower tribunal was fit to hear the concerns of the ‌group, ⁠and the top court does not need to interfere in the proceedings.

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Will F1 return to India?

In February, Karan Adani, son of Gautam Adani, attended the 70th Foundation Day of the All India Management Association, where he revealed his intention to bring Formula 1 back to India.

He said: "I’m very excited because with Jaypee [Group], obviously, the Buddh circuit comes as part of the deal. I’m personally engaged in terms of bringing Formula 1 back to India."

In addition to Adani, the Sports Minister Mansukh Mandaviya also announced his intention to return India to the F1 calendar.

He said, rather confidently: "There will be an F1 race in India in 2027. First race will be at Buddh International Circuit."

GPFans understands however, that there will not be an F1 race in India in 2027, despite the sport recognising India as a valuable market.

The organisation and logistics involved with putting on an event at the track at such short notice render it implausible.

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