New Delhi: The Supreme Court on Friday cleared the decks for the Formula 1 race in Greater Noida, demanding that the organizers would deposit 25 percent of sale proceeds from tickets in a separate account which would not be operated without its permission.

A bench of justices D K Jain and A R Dave in an interim order directed that the amount would be subject to the final outcome of a plea challenging tax exemptions accorded to the organizers of the Formula 1 race.

The apex court rejected the arguments of the organizers that the direction would act as a dampener and cause adverse publicity since it was an international event.

"How can it be a dampener or cause adverse publicity we do not understand?," the bench remarked while passing the order.

(Agencies)