Formula E Car Race Case Final Report Details By ACB
- ACB final report lists key points on Formula E car race case
- KTR, IAS Arvind, BLN Reddy and FEO representatives mentioned in report
Hyderabad: The ACB has prepared its final report in the Formula E car race case and recorded several key points linked to the organisation of the event. The report names A1 former minister KTR, A2 IAS officer Arvind, A3 BLN Reddy, A4 and A5 FEO representatives. Officials stated that KTR made it clear that it was his own decision to organise the Formula E car race. They further explained that a quid pro quo occurred as the race was organised without the permission of the Telangana government.
The ACB report also states that BRS received electoral bonds of Rs. 44 crore and that e-bonds were paid to BRS before the tripartite agreement. Meanwhile, it was clarified that IAS officer Arvind made two agreements related to permissions for the Formula E race without the signature of the state governor. The report adds that no permissions were obtained from MAUD and no prior information was given to the Chief Minister, the Chief Secretary or the Finance Minister.
Additionally, the ACB notes that during the 2023 Assembly elections, payments and agreements were made and violated the Election Code even though these activities were not part of the tripartite agreement. Officials mentioned that Rs. 20 crore was spent for Season 9. They further explained that even though HMDA is not included in the tripartite agreement, Rs. 46 crore should be paid to FEO. IAS officer Arvind Kumar said that BLN Reddy passed the bill. The report states that Rs. 54.88 crore was paid from HMDA for Season 10 and that an additional burden of Rs. 8 crore was imposed on HMDA for violating RBI regulations.
Later, officials noted that the second agreement made on October 30, 2023, will burden the government with Rs. 600 crore for Seasons 10, 11 and 12. It was also stated that if HMDA had not been involved, this responsibility would have fallen on Ace NXT Gen. The ACB further said that KTR lied by showing the Nilsson report that claimed Rs. 700 crore in investments. However, it was clarified that there is no report showing that the Telangana government received any profit of Rs. 700 crore. The final report states that Nilsson did not cooperate with the investigation. It is known that Telangana Governor Jishnu Dev Verma has given permission to investigate KTR in this case. After the governor’s approval, ACB officials increased their aggression in pursuing the case. (Maxim News)
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