‘Where Is the Scam?’: KTR Hits Back as ACB Files Formula E Chargesheet

In a significant development that has reignited political tensions in Telangana, the Anti-Corruption Bureau (ACB) has filed a chargesheet against K.T. Rama Rao (KTR) and four others in connection with alleged financial irregularities linked to the Formula E race held in Hyderabad. The chargesheet, submitted before a special court, pertains to suspected misappropriation of nearly ₹54.88 crore in public funds during the organisation of the international racing event.

The move marks a crucial escalation in a case that has been under investigation since December 2024 , when the ACB registered an FIR citing charges such as criminal breach of trust , conspiracy , and abuse of official position . The probe centres on payments made through the Hyderabad Metropolitan Development Authority (HMDA) to a UK-based entity, allegedly in violation of established procedures and without mandatory approvals.

Responding sharply, KTR dismissed the allegations as “baseless” and politically motivated. Questioning the core of the case, he asked whether a ₹49 crore bank-to-bank transfer carried out to host a global sporting event could be termed a scam. He argued that despite being in power for over two years, the Congress government had failed to establish any evidence of wrongdoing.

KTR further claimed that the funds remain secure and that no individual beneficiary has been identified. He accused the government of exaggeration and insisted that the previous BRS government strictly adhered to rules while focusing on development.

According to investigators, the controversy stems from decisions taken in 2023 after a private sponsor withdrew, prompting the state to step in as promoter. The ACB alleges that payments were made in foreign currency , without cabinet approval , and during the Model Code of Conduct , raising serious procedural concerns.

The inaugural race in February 2023 had put Hyderabad on the global motorsports map. However, the proposed 2024 edition was cancelled after the Congress assumed power, triggering scrutiny of past decisions.

With the chargesheet now filed, the case enters a crucial legal phase. At the same time, it has evolved into a major political flashpoint, sharpening the divide between the ruling party and the opposition in Telangana.