The Telangana Anti-Corruption Bureau (ACB) has registered an FIR against former minister and BRS Working President KT Rama Rao in connection with the alleged financial irregularities during the Formula E race held in Hyderabad last year. As per the FIR, the total value of properties involved is over 54 crore 88 lakh rupees. The ACB named K T Rama Rao known as KTR, as Accused No. 1 (A-1) in its FIR. Former Special Chief Secretary of Municipal Administration, Arvind Kumar, has been mentioned as A-2, and the Hyderabad Metropolitan Development Authority (HMDA) Chief Engineer, B L N Reddy, as A-3 under the Prevention of Corruption Act. The ACB registered a case against KTR for alleged misuse of government funds under Sections 13(1)(A) and 13(2) of the Prevention of Corruption Act, along with Sections 409 and 120(B) of other acts. The FIR was registered two days after the Cabinet gave its nod following the state Governor permitting to try KTR. There are allegations that Rs 55 crore was transferred from HMDA funds to Formula E Operations (FEO) without requisite approvals. KTR, as then Minister for Industry, allegedly sanctioned funds for the race bypassing established procedures and RBI Guidelines. Formula E cancelled the second Formula E race scheduled in Hyderabad earlier this year.