Formula E race: ACB questions FEO officials in Hyderabad

Hyderabad: The Telangana Anti Corruption Bureau (ACB) on Monday, February 17 questioned officials from the Formula E Operations (FEO) in connection with the alleged Formula E race scam worth Rs 54.88 crore.

Previously, the ACB had summoned the FEO CEO to appear before the state agency for questioning. However, they requested to appear online.

Formula E scam

After the Congress party assumed power in Telangana, it was revealed that the previous BRS government spent Rs 54 crores including Rs 8 crores in taxes on Formula E, the organizers of Formula E Season 10 in Hyderabad without Cabinet approval. A memo was issued to IAS officer Arvind Kumar, questioning the authorization for this transaction.

Congress also alleged that Rs 55 crores were spent on the event and raised concerns over inaction against Ace Nxt Gen, a Greenko subsidiary, for defaulting and withdrawing from the event. This led to the cancellation of the 2024 Formula E race in Hyderabad initially scheduled for February with organizers citing a “breach of contract.”

With the failure to retain the Formula-E race, KTR slammed the Congress government calling the decision “poor and regressive”.

KTR, Arvind Kumar booked by ACB

In December 2024,the ACB booked former Telangana IT minister KT Rama Rao (KTR) and the then Hyderabad Metropolitan Development Authority (HMDA) commissioner Arvind Kumar in connection with the alleged Formula E race scam.

Following a letter from the chief secretary, authorities are investigating alleged irregularities in organizing the Formula E race held in Hyderabad in 2023. The Hyderabad Metropolitan Development Authority (HMDA) reportedly paid Rs 45 crores to the foreign company Formula E Operations (FEO) violating RBI guidelines.

A case was registered under sections 13 (1) A, 13 (2) PC Act, 409, 120 B. ACB is now set to question former MAUD minister, KTR and senior IAS officer Arvind Kumar regarding the case.

(This is a breaking story further details are awaited)