ACB Documents Testimony of Complainant in Formula-E Race Investigation

Hyderabad, Dec 25 (NationPress) In a significant turn of events regarding the Formula-E race investigation, the Anti-Corruption Bureau (ACB) has documented the statement of the complainant M. Dana Kishore, who serves as the Principal Secretary for Municipal Administration and Urban Development.
With the collection of this statement, the anti-graft agency is now poised to issue notices to Bharat Rashtra Samithi (BRS) working president and former minister K. T. Rama Rao, senior IAS officer Arvind Kumar, and the former chief engineer of Hyderabad Metropolitan Development Authority (HMDA), B. L. N. Reddy.
Based on a complaint filed by Dana Kishore, the ACB initiated a case on December 19, alleging irregularities in the organization of the Formula E-car race that took place last year. This action followed the approval granted by Governor Jishnu Dev Varma at the state's request.
An FIR was logged under multiple sections of the Prevention of Corruption Act, citing claims of financial misconduct related to the Formula-E race during the BRS administration.
The complainant alleged that a payment exceeding Rs 54.88 crore was made to UK-based Formula-E Operations Limited (FEO) and others, which was described as a "gross violation of established procedures".
It is claimed that at the behest of then-industry minister K. T. Rama Rao, the HMDA transferred funds to FEO, breaching RBI guidelines. This payment was allegedly made without securing approvals from either the Cabinet or the Finance Department.
The ACB has filed the FIR under Sections 13(1)(A) and 13(2) of the Prevention of Corruption Act, in addition to Sections 409 and 120(B) of the Indian Penal Code.
KTR, as Rama Rao is commonly known, has refuted the corruption allegations, accusing the Congress government of engaging in political vendetta. He asserted that the Formula-E race was conducted to position Telangana as a leader in electric vehicle innovation.
On Friday, KTR filed a petition to quash the charges in Telangana High Court. The court's interim order regarding the petition has temporarily prevented the ACB from arresting KTR until December 30.
While offering relief to KTR, the court permitted the ACB to continue its investigation into the matter. The hearing has been postponed to December 27.
The day following the ACB's FIR, the Enforcement Directorate also initiated an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act (PMLA) against KTR, Arvind Kumar, and B.L.N. Reddy.
The ED is expected to issue notices after Monday, requiring KTR and others to appear for questioning related to this case.
The agency is investigating allegations of violations under the PMLA and the Foreign Exchange Management Act (FEMA) concerning the transfer of funds to a foreign entity. The investigation is likely to proceed after statements from KTR, Arvind Kumar, and B. L. N. Reddy are recorded.