Overview
- An ACB chargesheet alleges roughly ₹55 crore was transferred from the Hyderabad Metropolitan Development Authority to Formula E Operations without mandatory approvals or required financial procedures.
- The ACB special court in Nampally has taken cognisance of the chargesheet and issued summons to the accused, advancing the matter from investigation to formal hearings.
- K. T. Rama Rao appeared in the court in connection with the case and was joined by IAS officer Arvind Kumar, former HMDA chief engineer B. L. N. Reddy and former sports consultant Goveda Kiran Malleswara Rao as named accused.
- The hearing was adjourned after two companies named as accused failed to appear and the next court date has been posted by the court, delaying immediate resolution of the proceedings.
- KTR has denied wrongdoing, called the probe a political diversion, and said he will cooperate with the investigation while the case tests how event contracting and agency approvals are reviewed in future state projects.