Hyderabad: The Anti-Corruption Bureau (ACB) is preparing to send notices to officials and leaders involved in a scam related to the ‘Formula E’ racing event. These notices may also be served to representatives of the racing company and senior BRS leaders within a week.
The ACB is currently gathering evidence from the Municipal Administration and Urban Development (MAUD) department. They aim to prove the involvement of officials and influential leaders, including former Municipal Administration Minister KT Rama Rao, in the alleged misuse of funds.
Initial investigations suggest that Rs 55 crore were misused. The funds were released directly to an agency without approval from the Finance department. According to investigators, former MAUD Secretary Arvind Kumar admitted that the Rs 55 crore were released based on instructions from KT Rama Rao, who was the MAUD Minister at the time.
After coming to power, the Congress government cancelled the agreement between the government and the racing agency. The ACB began investigating the Rs 200 crore project after the MAUD department filed a new complaint last week.
The previous government had allowed the construction of a special track for the race, which took place around Hussain Sagar in February. Greenko spent Rs 150 crore, Hyderabad Racing Limited spent Rs 30 crore, and HMDA spent Rs 20 crore on developing the road track and other infrastructure. The MAUD department had signed an agreement with Formula-E Operation (FEO) in October 2023 to hold another race (Session-10) on February 10, 2024. For this, HMDA paid Rs 55 crore to FEO.
Officials have stated that the ACB has gathered enough evidence to issue notices to KT Rama Rao. They believe the ongoing investigation will reveal more details and help confirm the involvement of the former minister in the scam. Cases will be filed against all those found guilty based on the evidence collected.
