Telangana ACB Files FIR Against KTR Over Formula E Race Allegations
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Hyderabad, Dec 19 (NationPress) The Anti-Corruption Bureau (ACB) of Telangana has officially lodged an FIR against K.T. Rama Rao, the Working President of BRS and former minister, concerning alleged financial misconduct during the Formula E race that occurred in Hyderabad the previous year.
The FIR identifies K.T. Rama Rao (KTR) as Accused No. 1 (A-1). Arvind Kumar, the former Special Chief Secretary of Municipal Administration, is designated as Accused No. 2 (A-2), while B.L.N. Reddy, Chief Engineer of the Hyderabad Metropolitan Development Authority (HMDA), is listed as Accused No. 3 (A-3).
This case has been filed under four sections of the Prevention of Corruption Act.
The registration of the FIR took place just two days after the state Cabinet approved the move, following the permission granted by Governor Jishnu Dev Varma to proceed with legal action against KTR.
It has been alleged that a sum of Rs 55 crore was improperly transferred from HMDA resources to Formula E Operations (FEO) without necessary approvals.
KTR, who served as the Minister for Industry at the time, is accused of authorizing funds for the event while bypassing standard procedures.
In January, Deputy Chief Minister Mallu Bhatti Vikramarka stated that the Formula E race was organized by the prior government to benefit a specific company, and that Hyderabad and Telangana gained no advantages from it. The previous administration had agreed to pay Rs 110 crore to the company, of which Rs 55 crore had already been disbursed.
The remaining balance was to be settled in two further payments.
Furthermore, Formula E has canceled the second Formula E race (Season 10), which was set for February 10, 2024, after the decision from the Municipal Administration and Urban Development Department (MAUD) of Telangana to not honor the Host City Agreement established on October 30, 2023.
As a result, Formula E Operations (FEO) indicated that it had no alternative but to formally notify MAUD of a breach of contract.
The current Congress government has issued a notice to senior IAS officer Arvind Kumar for 'serious violations' regarding the agreement, prompting the official to justify why a significant financial outlay of Rs 46 crore, along with Rs 9 crore in taxes, was disbursed from HMDA resources prior to the agreement being signed.
KTR has defended the decision made by the previous government to host the Formula E race in Hyderabad, asserting his willingness to face imprisonment. He denied any corruption allegations, asserting that his intentions were to enhance Hyderabad's global reputation, particularly through the Formula E event.
