The arrest warrant issued against Vijay Mallya, the boss of the Sahara Force India F1 team, has been dropped.

A warrant was issued last week over a series of cheques that were handed to the operator of Hyderabad International Airport, which then bounced, by Mallya's airline Kingfisher.

The cheques, totalling more than ?1.2 million, were to settle user fees at the airport. Payment though, has now been made, although whether or not that includes full payment or part payment has now been divulged.

"The case [against Kingfisher and Mallya] has been withdrawn. The matter has been settled by our client [GMR with Kingfisher]... They asked us to withdraw the case, after which we informed the court about withdrawal of the case which has been agreed upon," J B Chenna Keshava Rao, one of the lawyers of GMR, said on Wednesday, according to

Kingfisher is currently seeking a buyer with all its planes grounded and staff having gone unpaid for six months.