Formula E Race: Greenko On ACB Radar

Hyderabad: Intensifying its probe into Formula-E race case, the Telangana Anti-Corruption Bureau (ACB) on Tuesday conducted searches at the offices of Greenko Group companies. The officials of the anti-graft agency have been searching the premises of Ace Nxt Gen in Madhapur since Tuesday morning.

The searches were also on at Ace Urban Race and Ace Urban Developers. A team of ACB officials was also searching the premises of Greenko Energy at Machilipatnam in neighbouring Andhra Pradesh.

The ACB is probing the alleged financial irregularities in the Formula-E race conducted in Hyderabad in 2023 when Bharat Rashtra Samithi (BRS) was in power. Greenko, a leading renewable energy company, through its subsidiary Ace Nxt Gen Private Limited, was initially involved as a sponsor for the Formula E race.

Meanwhile within a few hours of the ACB’s search at the green office at Madapur office in the city, the search was being carried out in Machilipatnam as well.

ACB officials had carried out search operations at Greenco Energy Projects Pvt Ltd’s offices in Machilipatnam, Krishna district, in Andhra Pradesh. The office is located in the residence of former municipal chairman ChalamalashettyVenkatalakshmi, near the Collector’s office. A team of 10 officials reached Machilipatnam around 10 am on Tuesday and searched the office and later they inquired about the details of the building’s owner.

The ACB officials took the help of the local police to remove the lock and carry out inspections in the office. The officials prevented the local media when tried to film the ongoing search operations.