Reuters/New DelhiIndian business conglomerate Sahara group has invested $100mn in Force India and taken a 42.5% stake in the Formula One team which it now co-owns with liquor baron Vijay Mallya while Dutch entrepreneur Michiel Mol takes a backseat. The Sahara Group, which has interests in the financial sector, entertainment, housing and sport among others, said in a statement yesterday that it had subscribed to new shares in the F1 team and has an equal stake with Mallya. The Mol family owns the remaining 15%. The flamboyant Mallya will continue as the team principal of India’s only Formula One team, to be now known as Sahara Force India, while Sahara group chairman Subrata Roy will be the chairman. “It is the coming together of two of India’s prominent groups, both of whom have supported sports in our country for many years,” Mallya said. “The possibilities are limitless. With this kind of resource in the company Force India will invest in further research and development and upgradation of its facilities and therefore hopes to be a lot more competitive.” Force India was formed in 2007 when a consortium led by Mallya and Mol bought the loss-making Spyker Formula One team and later renamed it Force India. The F1 team, whose current drivers are German Adrian Sutil and Britain’s Paul Di Resta, are sixth in the constructors’ standings ahead of Sunday’s race in South Korea. “My first approach to Sahara was for sponsorship. He (Roy) said I like it... I want to own it.”