ACB files chargesheet in Formula E race case

In a significant development in the Formula E race case, the probing agency ACB has filed a chargesheet on Monday.

In the chargesheet, the investigation agency levelled allegations against BRS leader KT Rama Rao (A1) , IAS officer Arvind Kumar (A2), former HMDA Chief Engineer BLN Reddy (A3), sports consultant Kiran Malleswara Rao (A4), and the UK-based firm FEO as A5 in the case.

The ACB chargesheet said that Rs 55 crore was diverted to foreign entities in violation of regulations. The case involves alleged financial irregularities in hosting the Formula E race in February 2023, specifically the payment of money without proper approvals. The case was registered under the Prevention of Corruption Act and relevant IPC sections

The Enforcement Directorate (ED) has registered an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act (PMLA).

It is learnt that the ACB will prosecute Arvind Kumar and KTR as the government has already sought permission from the Union Government and Governor recently.