Hyderabad: Telangana Minister K.T. Rama Rao (KTR) and senior IAS officer Arvind Kumar are under scrutiny in the E-Formula case, with the Anti-Corruption Bureau (ACB) reportedly preparing to register cases against them. Sources reveal that the ACB, after receiving a green signal from the government, is likely to issue notices within two days.
trategic Legal Preparations
The investigation, led by the Central Investigation Unit (CIU) under the ACB Director, will operate from the ACB headquarters in Banjara Hills. ACB officials have convened high-level meetings and devised arrest plans, ensuring legal safeguards to avoid procedural hurdles. Given the high-profile nature of the case, details are being kept confidential. Arrangements are in place to summon and question KTR and others directly at the ACB headquarters following the issuance of notices.
Rs 55 Crore Allegations Surface
The case revolves around alleged illegal payments of Rs 55 crore made to foreign entities for the Formula-E race event. The government had previously issued notices to Arvind Kumar, who served as the Municipal Administration Secretary at the time. Kumar has reportedly stated that the payments were made under the instructions of KTR.
The payments were allegedly processed without mandatory permissions from the Reserve Bank of India (RBI) or other relevant authorities. Furthermore, Kumar disclosed that agreements for the event’s Season 10 were finalized during the election code period, violating regulations and causing a financial burden of Rs 200 crore on the Hyderabad Metropolitan Development Authority (HMDA).
Controversial Formula-E Race
The Formula-E race, held in Hyderabad on February 11, 2023, under the BRS government, incurred a total expenditure of ₹200 crore. Event organizers Greenko and Hyderabad Racing Limited spent Rs 150 crore and Rs 30 crore, respectively, while HMDA contributed ₹20 crore. However, the Rs 55 crore payment during the election code period for Season 10 agreements has sparked controversy and allegations of financial irregularities.
With special investigative teams being formed, the ACB is intensifying its probe, signaling a critical phase in the case.