High-Speed Scandal: Formula E Race Sparks Major Legal Battle

The ACB court has summoned BRS working president K T Rama Rao and several others in connection with financial irregularities surrounding the Formula E race held in Hyderabad. While Rao insists funds were transferred per government decisions to boost the city’s prestige, the ACB alleges otherwise, highlighting a Rs 55 crore misappropriation.

The Anti-Corruption Bureau (ACB) court issued summons for BRS working president K T Rama Rao and four others, including senior IAS officer Arvind Kumar, to appear on July 31 in connection to the Formula E race financial scandal.

These summons come after the ACB court acknowledged a chargesheet accusing them of criminal conspiracy and misappropriation of entrusted funds amounting to approximately Rs 55 crore, mostly in foreign currency. The scandal has its roots in the organization of the Formula E race in 2023, with plans for a second installment in 2024 cancelled following a change in government.

Rao has downplayed accusations, stating that the funds transferred were to uplift Hyderabad's global image. However, the ACB continues to probe the alleged financial misconduct under the Prevention of Corruption Act.