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Telangana ACB conducts raids on Greenko offices in Formula E investigation
On January 7, 2025, the Telangana Anti-Corruption Bureau (ACB) conducted raids at Greenko, a renewable energy company, in Hyderabad and Andhra Pradesh. The raids are part of an investigation into alleged financial irregularities related to the Hyderabad Formula E race. Greenko, through its subsidiary, was initially a sponsor but withdrew, creating financial problems for the race. The ACB is investigating discrepancies between sponsorship agreements and event funding. Greenko has also been linked to substantial political contributions to the Bharat Rashtra Samithi (BRS) through electoral bonds. The ACB's investigation is ongoing and the Telangana High Court has dismissed a petition by BRS working president K.T. Rama Rao (KTR) to quash the FIR in the Formula E case. KTR has been summoned for questioning by the ACB. The ACB's FIR accuses KTR, former Municipal Administration Secretary Arvind Kumar, and HMDA Chief Engineer B.L.N. Reddy of criminal conspiracy and misappropriation of funds.12:10 PM Jan 07, 2025 IST