Hyderabad: ACB Summons Greenko MD in Connection with Formula-E 'Scam'

The summon is part of the ongoing investigation in the alleged Formula E race case in which Bharat Samithi (BRS) working president KTR, former HMDA commissioner Arvind Kumar and former HMDA chief engineer have been accused of misuse of funds.

Hyderabad: ACB Summons Greenko MD in Alleged Formula-E Scam

The Telangana Anti-Corruption Bureau (ACB) has summoned Greenko’s managing director, Anil Kumar Chalamalasetty, in connection with the alleged Formula-E scam. Chalamalasetty has been directed to appear before the ACB on January 18.

Greenko was initially the primary sponsor for the Formula E race held in Hyderabad in 2023 but later withdrew from the event. The ACB launched raids on three firms associated with Greenko the day after central agencies questioned former minister and BRS working president, KT Rama Rao (KTR), regarding the matter.

The summons is part of an ongoing investigation into the alleged misuse of funds linked to the Formula E race, in which KTR, former HMDA commissioner Arvind Kumar, and former HMDA chief engineer are accused. KTR has been charged with allegedly authorizing a transfer of Rs 55 crore to an international agency without the cabinet's approval.

As part of its probe, the ACB raided three Greenko offices on January 7. The raids targeted Greenko’s Ace NextGen office in Hyderabad’s Madhapur, as well as Ace Urban Race and Ace Urban Developers in Machilipatnam, Andhra Pradesh.

The ACB’s investigation also centers on a Rs 41 crore donation made by Greenko to the Bharat Rashtra Samithi (BRS) in the form of electoral bonds prior to the Formula E deal.