Telangana ACB Files Charge Sheet Against KTR in Formula E Case

Hyderabad, India – The Telangana Anti-Corruption Bureau filed a charge sheet on Monday against Bharat Rashtra Samithi Working President K.T. Rama Rao and several officials, accusing them of irregularities in payments totaling about 55 crore rupees for a planned Formula E race that was ultimately canceled. The case, registered in December 2024, centers on alleged violations of procedures in transferring funds, mostly in foreign currency, to Formula E Operations Limited, a UK-based entity, during the previous BRS government's tenure.

The charge sheet, spanning over 250 pages, names Rama Rao as the prime accused, along with senior IAS officer Arvind Kumar, former Hyderabad Metropolitan Development Authority chief engineer B.L.N. Reddy, sports consultant Kiran Malleshwar, and the foreign company. Investigators allege the payments, made from HMDA's general funds without required Cabinet approval for expenditures exceeding 10 crore rupees, included two installments of 2.25 million pounds each in October 2023 for the 2024 event. The inaugural Formula E race took place successfully in Hyderabad on February 11, 2023, but the second edition was scrapped after the Congress government took...