Hyderabad: The Anti-Corruption Bureau (ACB) reportedly uncovered widespread corruption in the management of the Formula E race. The ACB’s inquiry revealed that 55 crore rupees were paid to foreign companies and representatives under questionable circumstances.
The ACB is considering sending notices to key figures who managed the Formula E race in Hyderabad during the previous government. Currently, ACB officials are looking deeper into these payments and plan to send notices to the companies involved, based on information from municipal department records.
Further investigation is ongoing.
Hyderabad Formula E event: MAUD seeks ACB probe into ‘irregularities’
Earlier, the Municipal Administration and Urban Development (MAUD) Secretary, Danakishore, sent a letter to the Anti-Corruption Bureau (ACB) requesting an investigation into alleged violations related to the Formula E car racing event.
Reports suggest that the Enforcement Directorate (ED) may also get involved due to the international transfer of funds to a foreign company.
Formula E race event in Hyderabad
The Formula E race was held on February 11 of last year around Hussain Sagar in Hyderabad, attracting fans from across the country. Following the success of this event, MAUD entered into an agreement with Formula E Operations (FEO) for another race scheduled for February 10, 2024.
The Hyderabad Metropolitan Development Authority (HMDA) paid Rs 55 crores to FEO as part of this agreement, which was established during the tenure of the Bharat Rashtra Samithi (BRS) government.
However, FEO announced its withdrawal from hosting the race last December, citing non-compliance with the terms outlined in their agreement. At the time of the agreement, BRS was in power, while Congress was in control when FEO decided to cancel.
