Telangana CM Claims Over Rs 500 Crore Saved in Formula-E Event
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Hyderabad, Dec 20 (NationPress) - Telangana Chief Minister A. Revanth Reddy stated on Friday that his administration successfully preserved over Rs 500 crore by opting not to allocate additional funds for the Formula-E car racing event, after the former BRS government had already disbursed Rs 55 crore to an international company in what is alleged to be a breach of protocol.
The Chief Minister made this assertion in the State Assembly, a day after the Anti-Corruption Bureau (ACB) initiated a case against the Bharat Rashtra Samithi (BRS) and former minister K.T. Rama Rao (KTR) for purportedly misappropriating public funds in relation to the Formula-E race held in Hyderabad last year during the BRS administration.
Responding to KTR's release of images from a meeting with Formula E Operations (FEO) co-founder Albert Longo, the Chief Minister mentioned that FEO representatives approached him just 3-4 days after he took office in December of the previous year.
“They informed me that there was a deal with KTR for Rs. 600 crore and that they wanted the government to host the race again and disburse the remaining funds. I firmly declined. Why should the government invest Rs 600 crore in a car race?” he questioned, alleging that KTR intended to exploit the funds under the pretext of the Formula-E event.
The Chief Minister indicated that he would refrain from extensive comments on the issue while the ACB's investigation is ongoing and the High Court is reviewing the case.
Nonetheless, he promised to publicly disclose all pertinent details in chronological order soon.
Revanth Reddy criticized the BRS for obstructing Assembly proceedings to call for a debate on the Formula-E race. He questioned why the party had not raised this issue in previous sessions.
The Chief Minister accused the BRS of creating chaos in the Assembly to avoid discussions on new revenue legislation, fearing that such discussions would unveil their alleged scam involving the Dharani portal.
He also stated that he is open to debate on the Formula-E race matter at any time and in any place.
Revanth Reddy asserted that the BRS diverted funds for the Formula-E event from the Hyderabad Metropolitan Development Authority (HMDA) and sold off the Outer Ring Road, yet they are now causing a disturbance as the government takes action.
Expressing strong disapproval of BRS members' conduct in the Assembly, the Chief Minister declared that such behavior will not be tolerated.
He accused BRS members of disrespecting Speaker Gaddam Prasad Kumar and urged the Speaker to take decisive action against those behaving improperly in the House.
The ACB registered a case against KTR on Thursday for the alleged misappropriation of government funds related to the Formula-E race.
This case pertains to the alleged unauthorized transfer of Rs 55 crore from HMDA to FEO without the necessary approvals.
The FIR was filed under Sections 13(1)(A) and 13(2) of the Prevention of Corruption Act, in conjunction with Sections 409 and 120(B) of the Indian Penal Code.
On a quash petition submitted by KTR, the Telangana High Court instructed the ACB on Friday not to arrest him until December 30.
However, the court permitted the ACB to proceed with its investigation into the matter.
