ACB Conducts Searches at Greenko Office in Formula E Race Case Investigation

The Anti-Corruption Bureau (ACB) has conducted searches at the Greenko office in Madhapur as part of its investigation into the Formula E race case. The searches also extended to Greenko's subsidiary, 'Ace Next Gen.' These actions are connected to electoral bonds tied to Greenko's subsidiaries, which have come under scrutiny due to their involvement in the Formula E race case.

The ACB is looking into a payment of Rs. 41 crore made to the Bharat Rashtra Samithi (BRS) through electoral bonds before the Formula E deal was finalized. This deal was formalized through a tripartite agreement signed on October 25, 2022.

Additionally, the ACB has issued a second summons to former minister KT Ramarao (KTR), directing him to appear for questioning in relation to the Formula E case. KTR was previously notified to appear on December 9 for this investigation.