Hyderabad,Telangana, India: The Anti-Corruption Bureau (ACB) has completed its final report on the Formula E car race case, outlining several significant findings. With approval from Telangana Governor Jishnu Dev Varma, the ACB has now been allowed to question former minister K.T. Rama Rao (KTR), prompting the agency to intensify its investigation.

According to the report, multiple individuals have been named as accused, including A1—former minister KTR, A2—IAS officer Arvind, A3—BLN Reddy, along with two others. The inquiry states that the decision to conduct the Formula E race was taken by KTR himself, and the event was organized without the formal approval of the Telangana government.

The report further mentions that the BRS party received ₹44 crore through electoral bonds, allegedly even before the tripartite agreement related to the race was finalized.

Investigators noted that IAS officer Arvind Kumar signed two agreements for the Formula E event without securing mandatory consent from the state, particularly without informing the MAUD department, the Chief Minister, Chief Secretary, or the Finance Minister. It also states that payments and agreements were processed despite the election code being in effect. For Season 9, expenditures amounted to ₹20 crore.

Despite HMDA not being a part of the tripartite agreement, the report claims that the FEO was still expected to receive ₹46 crore. Arvind Kumar and BLN Reddy are said to have approved bills totaling ₹54.88 crore from HMDA for Season 10, with an additional ₹8 crore flagged for violating RBI guidelines. Another key agreement was reportedly signed on October 30, 2023. The projected cost to the government for Seasons 10, 11, and 12 is estimated at approximately ₹600 crore.

The ACB report also mentions that if HMDA had not participated, the responsibility should have been borne by Ace NXT Gen, although further details are still awaited. With the Governor granting formal permission to interrogate KTR, ACB officials have accelerated their actions in the ongoing probe.