Force India boss and co-owner Vijay Mallya may be unable to attend grands prix in 2016.
Seventeen banks that are owed money by the Indian businessman relating to his collapsed airline Kingfisher on Tuesday asked a court to urgently stop Mallya from leaving India.
"List it for hearing tomorrow," the judges decreed on Tuesday, according to the news agency PTI.
Mallya was not at the Barcelona tests recently as his F1 team Force India prepared for the new season, but deputy Bob Fernley distanced the Silverstone based camp from what is going on in India.
"I think it’s speculation coming from Indian media that is then exaggerated," Fernley said.
"There are no issues at all. Vijay is fully in charge of Force India."
Indeed, Mallya also slammed the recent press coverage, declaring: "The past few days have witnessed a near hysterical campaign in the media directed against me."
He rubbished claims he might deal with the Kingfisher turmoil by "absconding" from India in order to base himself full-time in England, where Force India is based.
"I have been most pained as being painted as an absconder," said Mallya. "I have neither the intention nor any reason to abscond.
"I have always lived an honourable life and, the calumny notwithstanding, shall continue to do so."