Arvind Kumar Set to Face Action for Benefitting Greenko in Formula E

Greenko is a leading alternative energy company and Anil Kumar was its founder-promoter, besides its current CEO. His own company, Ace Nxt Gen Pvt Ltd, signed a tripartite agreement with the previous BRS-led government and Formula E race organisers but opted out of it after the race caused heavy financial loss in the first year itself.

The explanation offered by Arvind Kumar to a memo issued by the Chief Secretary was self-explanatory that he did not initiate any legal action against Ace Nxt Gen for not coming forward to be the promoter for the second season of the race although it “has not cancelled its part of the contract officially till date.”

Arvind Kumar also made it clear in his reply that a file seeking permission to HMDA to enter into the agreement with the organiser and become promoter was circulated to BRS working president and then MA&UD minister K.T. Rama Rao. “The minister (KTR) who is competent authority was kept informed at every stage and due permission was obtained,” the former special chief secretary of MA&UD said in the reply.

What makes the role of Arvind Kumar questionable is that he did not initiate steps to proceed legally against Ace Nxt Gen although he mentioned in his reply that “legal action would have been initiated in accordance with relevant laws and its open for the state government to go ahead accordingly.”

Adding to this, the senior bureaucrat, in his earlier office note, circulated to the Chief Minister seeking ratification of changes to the agreement and payment of `55 crore by the HMDA, keeping under wraps the possibility of initiating legal action against Ace Nxt Gen. The note is silent on the legal action that Arvind has now been referring to in his reply to the memo.