KTR Refutes Corruption Claims in Formula E Race
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Hyderabad, Dec 19 (NationPress) Former Telangana minister and Bharat Rashtra Samithi (BRS) working president K. T. Rama Rao has refuted claims of corruption surrounding the Formula E race, asserting that the Congress government does not have the fortitude to engage in discussions about the issue in the Assembly.
In a press conference held shortly after the Anti-Corruption Bureau (ACB) filed a First Information Report (FIR) against him, Rama Rao strongly denied the allegations and provided insights into the transaction.
Identified as the primary accused in the purported scandal involving the transfer of Rs. 55 crore to a London-based firm, KTR clarified that it is indeed true that the Hyderabad Metropolitan Development Authority (HMDA) disbursed Rs. 55 crore to the event organizers. He challenged the Congress government to clarify where the alleged corruption lies.
He emphasized that the people of Telangana are observant, and he believes that the Formula E Race, which took place last year, was a strategic initiative to bolster the image of Hyderabad and Telangana.
KTR recounted that the Formula-E Race was contracted for a four-season period on October 25, 2022, with the goal of establishing Telangana as a center for electric vehicles.
The former minister asserted that the HMDA followed all legal protocols, and funds were transferred transparently through government banking channels. He highlighted that Hyderabad gained international recognition through the Formula E event, which attracted substantial investments in the electric vehicle domain. However, he accused the Congress government of mishandling the situation, leading to reputational damage for both Hyderabad and Telangana globally.
KTR accused the government of launching unfounded and politically driven cases to distract the public from their administrative shortcomings. He expressed his determination to confront the case legally, stating, "These fabricated cases and conspiracies will neither intimidate us nor deter our fight against corruption and incompetence. I have done no wrong, and I am confident of proving my innocence through legal means."
KTR noted that the Telangana government, through the HMDA, allocated Rs. 30 crore, while private sponsor Ace Urban contributed Rs. 110 crore. He referenced an independent study by Nielsen which found that the event generated an economic impact of Rs. 700 crore for Hyderabad.
The BRS leader explained that the cancellation of future races was due to the private sponsor's financial difficulties and the Congress government's failure to uphold its contractual commitments.
KTR accused Chief Minister Revanth Reddy and his administration of attempting to shift focus from the Congress government's unfulfilled promises.
He mentioned instances where international organizers of Formula E, dissatisfied with governmental decisions, initiated arbitration proceedings, which resulted in further embarrassment for Telangana.
Drawing comparisons to a similar incident in Montreal, Canada, where a local government canceled Formula E races, KTR pointed out that the organizers successfully sued for damages, stressing the potential legal and financial consequences of the Congress government's actions.
He revealed that the Formula E organizers have filed an arbitration case to resolve the matter, with Harish Salve serving as their lawyer. He also mentioned that the FMSCI intends to return a licensing fee of Rs 74 lakh, but the government is unwilling to accept it.
KTR disclosed that Chief Minister Revanth Reddy met with Formula E cofounder Albert Longo on December 13, sharing photos from the meeting with the press, and queried why the government has not disclosed the details of their discussions.
Prior to this, the ACB had filed a case against KTR, alleging the misuse of government funds under Sections 13(1)(A) and 13(2) of the Prevention of Corruption Act, along with Sections 409 and 120(B) of the Indian Penal Code. The allegations include that Rs. 45 crore was paid by HMDA to the foreign company FEO in breach of RBI guidelines, with payments made without prior approval from the Cabinet or the Finance Department.
The ACB has designated KTR as accused number one, with IAS officer and former HMDA Commissioner Arvind Kumar and former HMDA Chief Engineer BLN Reddy named as accused number two and three, respectively.
