Vijay Mallya has expressed his disappointment on Twitter about the Indian squad not being able to walk under the national flag following a ban.
India faced the humiliation when three of its athletes marched without the national flag during the opening ceremony of the Sochi Winter Olympics Friday night.
With the Indian Olympic Association (IOA) suspended by the International Olympic Committee (IOC) due to ethical and administrative reasons, luger Shiva Keshavan, Alpine skier Himanshu Thakur and cross-country skier Nadeem Iqbal had to walk behind the IOC flag.
The Indian athletes will compete under the "independent athletes"category and will be represented under the Olympic flag.
The IOA was suspended by the IOC in December, 2012 due to its failure to comply with the Olympic charter. It has resulted in Indian athletes, including boxers, participating in events under the flag of world body.