‘Over Rs 75 crore diverted in exchange for electoral bonds’According to the chargesheet, KTR worked with two senior bureaucrats and private groups to divert over Rs 75.88 crore from the Hyderabad Metropolitan Development Authority (HMDA) to fund Formula E electric car races. Furthermore, the ACB claims this was a reward for Rs 44 crore in electoral bonds given to his party, the Bharat Rashtra Samithi (BRS). The chargesheet, filed before the Principal Special Judge for SPE & ACB Cases at Nampally, lists KTR as Accused Officer-1. ‘HMDA funds used to cover losses for Ace Nxt Gen’The ACB says HMDA had no contract or duty to fund the Formula E races. “This was done without approval from the Cabinet, Finance Department, or Election Commission, and some of it happened during the 2023 Assembly election code of conduct,” alleges ACB chargesheet.