The Congress party in Telangana, under the leadership of Revanth Reddy, has launched a sustained campaign against the Formula-E race – an event that had previously brought global recognition and substantial economic benefits to Hyderabad. This race, held for the first time in India in February 2023, was a milestone during the BRS government’s tenure. However, the unilateral cancellation of the 2024 Hyderabad race by the Congress-led Revanth government and its accompanying smear campaign have sparked controversy, threatening Hyderabad’s growing reputation as a hub for innovation and sustainability.
The Formula-E race is a premier electric vehicle (EV) racing series held in cities worldwide, promoting cutting-edge technology and environmental consciousness. The race was the highlight of the E-Mobility Week organized by the BRS government, which also attracted significant investments in the automobile sector. Companies like Hyundai and Amararaja announced investments worth thousands of crores, creating substantial employment opportunities for local youth.
However, after the Congress-led Revanth government assumed power, it abruptly cancelled the agreement with Formula-E organizers, scrapping the 2024 Hyderabad race. This decision has been a setback for Hyderabad’s global brand image and a reversal of the progress made under the BRS government. Congress is trying to justify its decision by highlighting minor technical issues and making false allegations of financial mismanagement.
The Telangana Anti-Corruption Bureau (ACB) later filed a case against KTR and other officials, alleging misappropriation of funds related to the race. Despite no evidence of financial misconduct, the Enforcement Directorate launched an investigation based on the ACB’s allegations. Congress claimed that about ₹45 crore had been misused, but KTR has maintained that all transactions followed protocol and were conducted transparently. The Hyderabad Metropolitan Development Authority (HMDA) allocated about ₹45 crore to cover interim expenses, with funds transferred directly to race organizers via a public sector bank.
KTR and his team worked tirelessly to persuade Formula E organizers to bring the event to India, holding numerous meetings over several weeks. Without KTR’s efforts, this prestigious race might never have come to India. To protect and promote such a significant event, KTR made strategic decisions aimed at ensuring that the benefits of hosting it would enhance Brand Hyderabad and Telangana. His actions were driven by good faith and a vision for the region’s growth.
As the case unfolded, Congress has completely shifted the goal post and is now trying to accuse the BRS government of granting undue benefits to Greenko, the race sponsor, in exchange for electoral bond donations. Greenko, a renewable energy company operating across India, sponsored the race using its own funds. It is not recipient of any funds from the state government. Electoral bonds are a legal and transparent method of political contributions, and Greenko has made donations to several parties, including BJP and Congress. Hence, these allegations of quid pro quo remain unsubstantiated.
In response to these accusations, KTR has taken legal recourse to protect his reputation. Emphasizing the lack of evidence for any financial impropriety, he filed a petition in court to dismiss the case. KTR argues that all funds were transferred transparently through a public sector bank to a globally reputed organization, leaving no room for corruption. This, he asserts, is a case of political vendetta rather than one based on substantial grounds.
KTR’s actions highlight a fundamental democratic principle: the right to seek legal protection against false accusations. His decision to approach the judiciary underscores his confidence in the transparency of the transactions and his commitment to upholding his integrity. The broader question this case raises is whether governments can use state machinery to target individuals without evidence of wrongdoing, and whether such actions threaten the democratic fabric of accountability and fairness.
The Formula-E case is not merely about an international race or its cancellation—it has become a focal point of political rivalry, questioning the balance between governance, political accountability, and individual rights in Telangana.
