Renault have confirmed their intention to remain in Formula One despite the stain on their reputation caused by the Singapore race-fix scandal, it emerged today.

The team have also withdrawn the complaint made against their former driver Nelson Piquet jnr and his father, Nelson, of false allegations and blackmail. The disclosures were made in documents submitted by Renault to the World Motor Sport Council and during the hearing itself on Monday in Paris.

The team were handed a suspended disqualification from F1 over the conspiratorial plot involving axed team principal Flavio Briatore, former chief engineer Pat Symonds and Piquet jnr to cause a crash in last year's Singapore Grand Prix.

Part of their written submissions read: "Renault F1 and their parent company have given serious consideration as to whether they should remain in the sport following the prejudice caused to their corporate image by the conspiracy, in addition to the existing background of financial pressures that have caused car manufacturers to withdraw.

"But they have concluded that they would like to remain in Formula One and continue to make an important contribution to the sport."

Ali Malek QC, representing Renault in front of the WMSC, repeated the assertion the manufacturers would remain in the sport.

Malek said: "We are keen to put this whole affair behind us. It was a ridiculous plot, a one-off, and Renault know nothing like this can ever happen again.

"This is a black day for us but it is our intention to do everything we can to draw the line, to put this sad history behind us."

Remarkably, Renault F1 informed FIA president Max Mosley the charge of conspiracy would not be contested on the morning of the Italian Grand Prix on 13 September. That was just 48 hours after Renault F1 and Briatore announced that they had launched criminal proceedings in France against the Piquets.

Malek stated that what he described as "the Monza admission" was "unconditional and unequivocal", with no intent made for "any kind of plea bargain."

Renault F1 then wrote to the French prosecutor on Friday seeking to withdraw their complaint, although at present it is understood Briatore has yet to do so. Malek further described Briatore as "a trusted head" who "should have killed off the ridiculous idea of causing a safety car incident".

Lewis Hamilton, meanwhile, feels Piquet jnr could yet return to F1, as is the Brazilian's intention now the saga has been concluded.

Speaking about his rival from his GP2 days, the world champion said: "He's a good driver and he's had a great career, so who knows.

"For sure, there are opportunities for him in the future and I can only wish him the best."