Hyderabad, Nov 20: Telangana Governor Jishnu Dev Varma has given his nod to prosecute former minister and BRS working president K.T. Rama Rao in the Formula E race case.

The nod comes two months after the state government sent the file to the Governor seeking his permission to prosecute the Bharat Rashtra Samithi (BRS) leader in the case relating to alleged misuse of Rs 54.88 crore public funds.

This will pave the way for the Anti-Corruption Bureau (ACB) to file the charge sheet.

It was in September that the ACB submitted its report and, through the state government, sought the Governor’s sanction to prosecute K.T. Rama Rao (KTR), senior IAS officer Arvind Kumar and others.

However, the prosecution of Arvind Kumar requires permission from the Department of Personnel and Training (DoPT) of the Central government. It was immediately not clear if the ACB would file the charge sheet against all the accused after receiving permission from DoPT or file an initial charge sheet against KTR.

After nine months of probe into the alleged irregularities in hosting the Formula E race in Hyderabad during the previous BRS regime, the ACB had submitted its report to the government.

He has been accused of receiving Rs 44 crore in the form of an electoral bond from a sponsorship company as a quid pro quo for granting it rights to organise the race.

The ACB in December last year booked a case against KTR, former Special Chief Secretary, Municipal Administration and Urban Development (MA&UD), Arvind Kumar and the Hyderabad Metropolitan Development Authority’s (HMDA) former Chief Engineer B.L.N. Reddy for alleged Rs 54.88 crore irregularities in the Formula E deal.

After the Governor gave his permission for the probe, the FIR was registered on a complaint by Principal Secretary, MA&UD, M. Dana Kishore, who stated that foreign remittances were made without prior approvals of the relevant regulatory authorities, which resulted in additional tax burden to HMDA to the tune of Rs 8.06 crore.

The complainant also alleged that the payment was made while the Model Code of Conduct was in effect for the elections to the state Assembly without any prior approval of the Election Commission. The FIR was registered under the Prevention of Corruption Act as well as under the Indian Penal Code’s (IPC) Sections 409 (criminal breach of trust) and 120B (criminal conspiracy).

The ACB questioned KTR, Arvind Kumar and B.L.N. Reddy multiple times in the case.

The former minister, who was questioned by the ACB four times, dismissed the Formula E case as a “bogus case”.

KTR said he had made every effort to bring the Formula E race to Hyderabad. He admitted that it was he who had directed the release of Rs 46 crore from the government, but clarified that the funds had been deposited directly into the designated account. “Not a single rupee has been misused. Every rupee is accounted for. Where then is the corruption?” he asked.

The BRS leader asserted that even if prosecution proceeded or charge sheets were filed, nothing would stand.

Mumbai, Nov 20: Groww’s share price continued to fall for the second day in a row on Thursday as investors booked profits after the stock’s strong rally last week.

The shares slipped as much as 9 per cent during early trade, touching an intra-day low of Rs 154.10 on the National Stock Exchange (NSE).

This is a 9.29 per cent drop from the previous day’s close.

During early trade, the market value of Billionbrains Garage Ventures — Groww’s parent company — fell to Rs 97,431.70 crore, slipping below the Rs 1 lakh crore mark.

The decline follows Wednesday’s sharp fall, when the stock hit the 10 per cent lower circuit on both the BSE and NSE, ending a five-day winning streak.

It closed at Rs 169.94 on the BSE and Rs 169.89 on the NSE in the previous trading session.

On Wednesday, the exchanges also revised Groww’s price band from 20 per cent to 10 per cent, limiting how much the stock can move in a single session.

The next key event for the stock is on Friday, November 21, when the company will announce its quarterly results — its first earnings report since listing last week.

Earlier, in a filing to the stock exchanges, Groww said its Board of Directors will meet on Friday, November 21, 2025, to consider and approve the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025.

Another important trigger is expected on December 10, when the one-month lock-in period for shareholders ends.

Groww, founded in 2016, is currently India’s largest stockbroker with more than 12.6 million active clients and a market share of over 26 percent as of June 2025.

Vasai: In the case involving the death of a 13-year-old student at Shri Hanumant Vidya Mandir School in Vasai, a case of culpable homicide not amounting to murder has been registered against teacher Mamata Yadav. It is alleged that the punishment given by the teacher led to the girl’s deteriorating health and eventual death. The police registered the case after receiving the medical report and arrested the teacher on Wednesday.

Kajal Gaund, the student, was studying in the sixth standard at Shri Hanumant Vidya Mandir School in Sativali, Vasai East. On November 8, some children arrived late for school. The class teacher, Mamata Yadav, punished the children, including Kajal, by making them do 100 squats while carrying their school bags on their shoulders.

After returning home from school, Kajal’s health deteriorated. She was admitted to the hospital for treatment, but she passed away during the course of treatment. The incident had severe repercussions. On Tuesday, the post-mortem report was received by the police from the JJ Hospital.

Consequently, the Valiv Police finally booked teacher Mamata Yadav under Section 304 (culpable homicide not amounting to murder) of the Indian Penal Code and Section 75 of the Juvenile Justice (Care and Protection of Children) Act for being responsible for the death. The teacher was arrested on Wednesday evening.

“Initially, a case of accidental death was registered in this matter. However, based on the inquiry and the medical report, a case of culpable homicide not amounting to murder has been registered against the teacher, and she was arrested yesterday evening,” said Dilip Ghuge, Senior Police Inspector of the Valiv Police Station.