Hyderabad (Telangana) [India], September 18 (ANI): Bharat Rashtra Samithi (BRS) working president KT Rama Rao (KTR) arrived at the Nampally ACB Court on Friday in connection with the alleged financial irregularities in the 2023 Formula E race case.
Apart from KTR, IAS officer Arvind Kumar, former HMDA chief engineer BLN Reddy and former sports consultant Goveda Kiran Malleswara Rao are also expected to appear before the court in connection with the case.
The Telangana Anti-Corruption Bureau (ACB) registered a case against KTR in 2024 over alleged payments, including some made in foreign currency without necessary approvals, for conducting a Formula E race in Hyderabad during the previous BRS regime.
The ACB is investigating alleged financial irregularities in the organisation of the Formula E race in Hyderabad in 2023. The case involves alleged misuse of Rs 44-55 crore, including an alleged transfer of funds by the Hyderabad Metropolitan Development Authority (HMDA) to London-based Formula E Operations (FEO) without following due process.
The alleged fund transfer took place despite the Model Code of Conduct being in force, raising questions over compliance with electoral guidelines.
KTR, who was the then Minister for Municipal Administration and Urban Development, has been accused of instructing officials to ensure that HMDA covered the costs of a second edition of the event, which was not subsequently held.
The Enforcement Directorate (ED) has also registered an enforcement case information report (ECIR) under the Prevention of Money Laundering Act (PMLA) against KTR and others in the case.
The ED registered the ECIR after the Telangana ACB filed an FIR against KTR and others in connection with the Formula E funding case. (ANI)
Telangana: KTR arrives at Nampally ACB Court in connection with Formula E race irregularities case
