Even as Bharat Rashtra Samithi (BRS) working president and former Telangana minister K.T. Rama Rao resists questioning by the Anti-Corruption Bureau (ACB) over alleged financial irregularities in the conduct of the Formula E race, the Revanth Reddy government has made a sensational revelation.
Sources close to the government have leaked information to the media, alleging that the BRS received â¹41 crore in the form of electoral bonds from Greenko, a company that partnered with the Formula E organisers for the event.
According to government sources, Greenko and its affiliated companies purchased electoral bonds 41 times between April 8 and October 10, 2022.
Each purchase was worth â¹1 crore, amounting to a total donation of â¹41 crore to the BRS in the form of electoral bonds.
The payments reportedly began during the initial discussions for hosting the race. Greenko started purchasing the electoral bonds raised by the BRS, eventually contributing â¹41 crore.
The government has released a document showing the date-wise purchase of these bonds by Greenko.
Interestingly, Greenko withdrew from the Formula E race event after the first season in Hyderabad.
Following this, the Hyderabad Metropolitan Development Authority (HMDA) stepped in as a partner for the race, paying â¹49 crore to the organisers in two instalments.
These payments, allegedly made in violation of Reserve Bank of India (RBI) guidelines and without cabinet approval, have further raised questions.