The Indian Express report said police have raided the house of Subrata Roy.
Feb.28 (GMM) Amid team supremo Vijay Mallya's high-profile problems, it emerges that another key Force India figure is also in major trouble.
Team boss Mallya's grounded Kingfisher airline has hogged all the headlines, but now the owner of Force India title sponsor Sahara is also in hot water, according to domestic publications including The Indian Express.
The report said police have raided the house of Subrata Roy, after a non-bailable warrant for his arrest was issued by the supreme court.
The police "failed to find him there", the newspaper said, but Roy insisted in a statement on Friday that he is not on the run.
"I am not that human being who will abscond," he said. "In fact, being a law-abiding citizen, I shall hate myself to do any such thing ever in my life."
The warrant was issued after Roy failed to appear in court to answer a case about unpaid refunds to investors.