HYDERABAD: The Formula E race case has resurfaced in Telangana’s political landscape, with the Anti-Corruption Bureau (ACB) initiating new actions. After collecting substantial evidence, the ACB is set to issue fresh notices to the accused next week, summoning them for further investigation. Previously, the ACB conducted virtual interrogations with the CEO and representatives of Formula-E Operations (FEO), gathering critical information. Additionally, allegations have surfaced regarding violations of the Foreign Exchange Management Act (FEMA), involving a direct transfer of ₹55 crore to a foreign entity. Both the ACB and the Enforcement Directorate (ED) have registered cases and commenced investigations. In December and January, these agencies recorded statements from the accused. Since then, there has been little progress. However, the ACB now plans to reissue notices and conduct further interrogations to advance the investigation.
Formula E Race case resurfaces: Notices to be issued again
