ACB Issues Summons to KTR Regarding Formula-E Race Investigation on January 6
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Hyderabad, Jan 3 (NationPress) The Anti-Corruption Bureau (ACB) of Telangana has called upon K.T. Rama Rao, the Working President of the Bharat Rashtra Samithi (BRS) and ex-minister, to respond in relation to the Formula-E race investigation.
A notice was dispatched to KTR, instructing him to present himself on January 6 at 10 a.m.
On December 29, the ACB initiated a case against KTR, senior IAS officer Arvind Kumar, and former chief engineer of the Hyderabad Metropolitan Development Authority (HMDA), B.L.N. Reddy, citing alleged misconduct in the organization of the 2023 Formula E-car race.
The FIR was filed 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, following a complaint lodged by M. Dana Kishore, the Principal Secretary for Municipal Administration and Urban Development.
A statement from Dana Kishore has been documented in the case, where KTR is identified as the primary accused.
The Telangana High Court has postponed its decision on KTR's petition to dismiss the charges and instructed the ACB not to detain him until a ruling is made.
During the proceedings, the Advocate General representing the ACB informed the court that £46 million was paid to Formula-E Operations Ltd (FEO) in breach of regulations, even prior to the agreement for the tenth season of the Formula-E race.
The court was also made aware that the FIR was filed following the Governor's authorization.
In connection to the FIR, the Enforcement Directorate has also launched an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act against KTR, Arvind Kumar, and B.L.N. Reddy, and is currently investigating the matter.
KTR has also been summoned to appear before the Enforcement Directorate on January 7.
Arvind Kumar and B.L.N. Reddy received summons from the central agency on January 2 but requested additional time.
The agency has initiated a concurrent inquiry under the Foreign Exchange Management Act (FEMA) to assess potential violations.
