Yup, from what I hear, it is against Indian regulations to display the national flag like that. LHD imports aren't allowed either.
The biggest gift Dhoni could have ever received is the appreciation of over a billion Indians, both in the country and around the world. The government of Jharkhand (Dhoni's home state) is going to name the Raipur stadium after him. Given the aforementioned, the lame LHD Ferrari is far from noteworthy. 