Formula E race: Greenko offices in Hyderabad and A.P. raided by ACB
The Hindu
Telangana ACB raids Greenko Group offices in Formula-E sponsorship irregularities, summons K.T. Rama Rao for questioning.
The Telangana Anti-Corruption Bureau (ACB), on Tuesday (January 7, 2025), conducted raids at Greenko Group’s offices in Hyderabad and different places in neighbouring Andhra Pradesh in connection with the alleged irregularities in Formula-E sponsorship. This comes a day after the Bureau summoned Bharat Rashtra Samithi (BRS) working president and former minister K. T. Rama Rao for questioning on Thursday (January 9, 2025).
According to official sources, raids are being conducted at the company offices in Madhapur here, Vijayawada and Machilipatnam in Andhra Pradesh.
Greenko, through its subsidiary, was a sponsor for the Season 9 of the racing event, but later withdrew. The ACB is investigating the sponsorship agreement and the event funding. A tripartite agreement concerning the organisation of the race was reached on October 25, 2022.
Acccording to sources the ACB is also looking into the company’s political contributions to the tune of ₹41 crore to the BRS through electoral bonds prior to the Formula-E deal.
Meanwhile, following the high voltage drama in front of the ACB office on Monday, the authorities issued a fresh notice to Mr. Rama Rao, asking him to appear for questioning on January 9 in the Formula-E case.
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