Last year, Mr Fernandes' team raced as Team Lotus - a name that was not owned by Group Lotus.
"The race team must improve and be a true showcase for our group of businesses, " Fernandes said in a team press release.
Lotus team principal Tony Fernandes and technical director Mike Gascoyne had a meeting with Renault on Sunday morning at the British Grand Prix.
Lotus are aiming to be the best of the new teams in 2010, with team principal Tony Fernandes publicly challenging Virgin Racing's Richard Branson.
Elsewhere, Team Lotus officially changed their name to Caterham F1 on Wednesday, with team principal Tony Fernandes eyeing improvements in the 2012 Formula One season.
Lotus Racing team principal Tony Fernandes agreed a deal to use the Lotus name in F1 this year with the owner of Lotus Cars, the Proton car company.
The 28-year-old admits he had other options, but was quickly sold on the new enterprise when he spoke to team principle Tony Fernandes and technical director Mike Gascoyne.
And Lotus team principal Tony Fernandes said on his Twitter page that personnel from the Ferrari, Renault, Mercedes, Sauber and Toro Rosso teams were flying on his Air Asia airline to Malaysia before heading back to the UK on a special charter when the airports open.
Monday's hearing surrounded Group Lotus's decision to terminate a five-year licensing deal it had with Team Lotus boss Tony Fernandes's 1Malaysia group to use the Lotus brand in F1.
Fernandes bought the rights to the Team Lotus name in an attempt to protect his investment in F1 when he realised he had fallen out of favour at Group Lotus.
Bahar decided to back Renault and ended the licensing agreement with Team Lotus, claiming that Fernandes breached its terms.
And there is a separate case about the rights to use the historic Team Lotus name, which Fernandes bought from its previous owner David Hunt last year.
Fernandes is a Malaysian businessman who also owns the Caterham Formula One team.
Two years ago, Branson and AirAsia Group CEO Tony Fernandes wagered on their Formula 1 racing teams, each man betting his own team would finish ahead of the other's in the 2010 Formula 1 Grand Prix in Abu Dhabi.
It is expected that Fernandes will be forced to abandon the Lotus name, and that Proton will buy into the Renault team, which may be renamed Lotus-Renault.
The row dates back to 2009, when Fernandes was granted by Group Lotus the rights to use the Lotus name in F1 for a new team he was setting up to race in the 2010 season.
Mr Fernandes then bought Caterham Cars, created Caterham Group with four motoring and technology subsidiaries, and renamed the team Caterham F1 Formula One.
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