ACC Alleges Rs 55 Crore Foreign Payment Linked to 2023 Hyderabad Formula‑E Event

According to a charge sheet submitted by the Anti‑Corruption Commission (ACC) in March 2026, the 2023 Formula‑E race held in Hyderabad involved the illegal diversion of roughly Rs 55 crore to a foreign firm. The document alleges that the payment breached standard procurement protocols and was facilitated without prior approval from the relevant regulatory bodies.

Investigators contend that the irregular transaction imposed an additional tax burden of Rs 8.06 crore on the Hyderabad Metropolitan Development Authority. The ACC has already questioned KTR four times, as well as senior officials Aravind Kumar and B. L. N. Reddy, seeking clarification on the flow of funds and the alleged election bond received by KTR.