BRS leader KTR booked for alleged irregularities in Formula E deal
The case alleges mismanagement of funds and improper payments made during KTR's tenure as the state's minister for MAUD, which facilitated the Formula E race coming to the capital.
- Dec 19, 2024,
- Updated Dec 19, 2024 6:15 PM IST
Telangana's Anti-Corruption Bureau (ACB) has filed a case against Bharat Rashtra Samithi (BRS) working president KT Rama Rao (KTR), son of former Chief Minister K Chandrashekar Rao, regarding alleged irregularities in bringing the Formula E car racing event to Hyderabad, The Indian Express reported on Thursday.
KTR has been named the primary accused, with former Municipal Administration and Urban Development (MAUD) principal secretary Arvind Kumar as the second accused and former Hyderabad Metropolitan Development Authority (HMDA) chief engineer BLN Reddy as the third accused, the report said.
The case alleges mismanagement of funds and improper payments made during KTR's tenure as the state's minister for MAUD, which facilitated the Formula E race coming to the capital. According to the FIR, KTR did not seek clearance from the Cabinet before authorising Arvind Kumar to make payments.
The ACB claims that the HMDA paid Rs 45 crore in two instalments to the foreign company Formula E Organisers (FOE), violating RBI guidelines. A fine of Rs 8 crore was later imposed by the RBI on the Telangana government for these unauthorised transactions, which was subsequently paid by the Congress government after taking office late last year.
The FIR details that the new Congress government initiated an investigation following the fine, uncovering alleged violations and financial irregularities in the Formula E race event.
The FIR came after Governor Jishnu Dev Varma gave his consent to prosecute KTR. KTR wrote to Chief Minister A Revanth Reddy on Wednesday, calling for the matter to be discussed in the Legislative Assembly to provide clarity on what "actually happened" during the Formula E case.
KTR has denied any wrongdoing in the payments made for the event, stating that hosting the race was aimed at promoting Hyderabad’s global image.
Telangana's Anti-Corruption Bureau (ACB) has filed a case against Bharat Rashtra Samithi (BRS) working president KT Rama Rao (KTR), son of former Chief Minister K Chandrashekar Rao, regarding alleged irregularities in bringing the Formula E car racing event to Hyderabad, The Indian Express reported on Thursday.
KTR has been named the primary accused, with former Municipal Administration and Urban Development (MAUD) principal secretary Arvind Kumar as the second accused and former Hyderabad Metropolitan Development Authority (HMDA) chief engineer BLN Reddy as the third accused, the report said.
The case alleges mismanagement of funds and improper payments made during KTR's tenure as the state's minister for MAUD, which facilitated the Formula E race coming to the capital. According to the FIR, KTR did not seek clearance from the Cabinet before authorising Arvind Kumar to make payments.
The ACB claims that the HMDA paid Rs 45 crore in two instalments to the foreign company Formula E Organisers (FOE), violating RBI guidelines. A fine of Rs 8 crore was later imposed by the RBI on the Telangana government for these unauthorised transactions, which was subsequently paid by the Congress government after taking office late last year.
The FIR details that the new Congress government initiated an investigation following the fine, uncovering alleged violations and financial irregularities in the Formula E race event.
The FIR came after Governor Jishnu Dev Varma gave his consent to prosecute KTR. KTR wrote to Chief Minister A Revanth Reddy on Wednesday, calling for the matter to be discussed in the Legislative Assembly to provide clarity on what "actually happened" during the Formula E case.
KTR has denied any wrongdoing in the payments made for the event, stating that hosting the race was aimed at promoting Hyderabad’s global image.