Friday 5 February at 16:01 : Feb.5 (GMM) Team owner, director and co-owner Vijay Mallya on Friday played down reports Force India may be unable to race in 2010.

An earlier report in the Daily Telegraph newspaper said the Silverstone based team faces dissolution by the UK's Companies House for failing to lodge its 2008 financial accounts.

"It is not unknown for companies to file their annual returns late, the reasons for which are varied," Indian billionaire Mallya, 54, said in a statement.

He confirmed that Companies House has granted Force India an extension until February 25 to lodge the tardy paperwork.

"We are taking all necessary steps to ensure filing is made on or before that date. So Force India's participation in the championship is not, and will not, be in jeopardy," said Mallya.

Meanwhile, a team spokeswoman clarified that Force India's 2010 car, the Mercedes-powered VJM03, made its debut at Silverstone on Wednesday of this week, not on Thursday as was previously reported.