Telangana will legally recover sums paid to Formula E organisers
Telangana deputy chief minister Bhatti Vikramarka Mallu referred to the Formula E race as a 'failure', claiming that the state had spent a financial loss of roughly Rs 110 crores to host the event.
"This considerable financial effect raises questions about the reason for investing so much money just for a prospective image boost. There is also a problem with the Municipal Administration special chief secretary signing a file without the consent of the then-municipal minister, K T Rama Rao. "The government is considering legal action due to noncompliance with the secretariat's business rules," he stated.
He went on to say that the state administration will evaluate the legal legality of the former state government's agreement with the corporation and move appropriately.
"There is no validity as the deal is entered into in violation of the secretariat business rules without informing the competent authority," he said.
He also stated that the state government has decided to take legal action to recoup the funds paid to Formula E organizers.
He also expressed worry about "the lack of due process" in entering into the arrangements, which included a tripartite agreement with Ace Nxt Gen and an advance payment of Rs. 55 crore.
Bhatti also voiced concerns about the financial ramifications and the "absence" of required due diligence.
The deputy chief minister also questioned the 'public interest' of organizing the Formula E event, dismissing former minister KT Rama Rao's assertion that it helped attract investments and companies.
He warned the leaders of the Bharat Rashtra Samithi (BRS) to stop "spreading misinformation" regarding the newly elected congress government's operations.
He accused the BRS of perpetrating "economic atrocities" to benefit a select group, claiming that the people behind Ace Nxt Gen will be "disclosed very soon."
"This considerable financial effect raises questions about the reason for investing so much money just for a prospective image boost. There is also a problem with the Municipal Administration special chief secretary signing a file without the consent of the then-municipal minister, K T Rama Rao. "The government is considering legal action due to noncompliance with the secretariat's business rules," he stated.
He went on to say that the state administration will evaluate the legal legality of the former state government's agreement with the corporation and move appropriately.
"There is no validity as the deal is entered into in violation of the secretariat business rules without informing the competent authority," he said.
He also stated that the state government has decided to take legal action to recoup the funds paid to Formula E organizers.
He also expressed worry about "the lack of due process" in entering into the arrangements, which included a tripartite agreement with Ace Nxt Gen and an advance payment of Rs. 55 crore.
Bhatti also voiced concerns about the financial ramifications and the "absence" of required due diligence.
The deputy chief minister also questioned the 'public interest' of organizing the Formula E event, dismissing former minister KT Rama Rao's assertion that it helped attract investments and companies.
He warned the leaders of the Bharat Rashtra Samithi (BRS) to stop "spreading misinformation" regarding the newly elected congress government's operations.
He accused the BRS of perpetrating "economic atrocities" to benefit a select group, claiming that the people behind Ace Nxt Gen will be "disclosed very soon."