Hyderabad, January 25: The Anti-Corruption Bureau (ACB) has issued notices to the management of FEO Company regarding alleged financial irregularities in the Formula E Race case. The investigation revealed that Rs 50 crore was transferred from Hyderabad Metropolitan Development Authority (HMDA) accounts to the company.
The ACB has summoned the company’s CEO for questioning, during which their statement will be recorded. However, initial reports indicate that the management has sought a four-week extension to comply with the notice.
Earlier, the ACB recorded statements from BRS Working President K T Rama Rao (KTR), who has been listed as Accused No 1 (A1) in the case. Statements were also taken from Arvind Kumar, Special Secretary for Municipal and Urban Development, and BLN Reddy, a former Chief Engineer at HMDA.
On January 18, representatives from Greenko and Ace Next Gen companies, involved in organising the Formula E Race, were questioned. The investigation into financial transactions and the roles of individuals and companies associated with the event is ongoing.
