KTR Faces Action in Formula E Case

Telangana Governor Jishnu Dev Varma has allowed the state government to take
legal action against BRS leader and former minister Rama Rao (KTR) in the Formula
E Race case.
The case is about alleged financial irregularities of around ₹55 crore during the
Hyderabad Formula E race held when the BRS was in power.

The state’s Anti-Corruption Bureau (ACB), which investigated the case, said
there was a quid pro quo arrangement. According to the ACB, KTR helped give a
contract to an event sponsor — Ace Nxt Gen, a subsidiary of the renewable energy
company Grenko — in return for electoral bonds worth ₹45 crore.

The ACB report also said that legal procedures were ignored and that funds were
quickly released from the Hyderabad Metropolitan Development Authority (HMDA)
without proper checks.

With the Governor’s approval, the ACB can now file a chargesheet and continue
the prosecution. KTR, however, has denied all the charges and called the case
politically motivated and baseless.