Significant updates are happening in Telangana politics over Formula E racing case involving former minister, BRS Working President KT Rama Rao. The Anti-Corruption Bureau (ACB) filed a case against KT Rama Rao AKA KTR, claiming improper use of public funds for organizing the Formula E race in Hyderabad last year. While the ACB has registered a case against KTR in the Formula E race case, the ED has also entered. KTR's name is listed as A1 Accused in this case. Enforcement Directorate (ED) is also likely to issue notices and investigate.
The ACB all set to start an investigation into the Formula E race irregularities. Soon, the investigation officials will issue notices to KTR, IAS officer Arvind Kumar, and HMDA Chief Engineer BLN Reddy. Both the bureaucrats booked as A2 & A3 in the case.
The state government has taken the Governor's permission in advance to investigate former minister KTR in this case. After that, the ACB registered the case as soon as it received the official green signal from the government.
Main Allegations on HMDA
The matter concerns the claimed illegal transfer of Rs 55 crore from the Hyderabad Metropolitan Development Authority (HMDA) to Formula E Operations Limited without the necessary permissions. The FIR also lists Aravind Kumar, ex-Principal Secretary of Municipal Administration and Urban Development, and BLN Reddy, previous Chief Engineer of HMDA, as co-accused.
Partial Relief for KTR
The Telangana High Court provided temporary protection to KT Rama Rao, preventing his arrest until December 30. Court allows the ACB to proceed on further investigation into the case. ACB is looking in-depth into the case, and the court has permitted the inquiry to proceed.
ED Eye on Money Laundering
The Enforcement Directorate (ED) has initiated a money laundering case involving KT Rama Rao and others related to the purported payment discrepancies during the Formula E car race.
Government's Position
Chief Minister Revanth Reddy accused KT Rama Rao of orchestrating a "theft" of Rs 600 crore under the guise of the Formula E race. CM explained in the Assembly that former minister KTR had entered into an agreement with the Formula E race organizers to loot not Rs. 55 crore but Rs. 600 crore. He said that the real matter came to light only when the racing organizers came and met him. CM accused BRS regime of committing financial irregularities by making payments in Pounds without the approval of the state cabinet and permission of the RBI. He said that an inquiry has been ordered to unearth the irregularities that took place in the previous BRS government.
KTR's Statement
KT Rama Rao has rejected any allegations of misconduct and mentioned that he would face prison if any unlawful actions were uncovered. On the other hand, BRS says that there were no irregularities in the Formula E car race event contract. They allege that the Revanth Reddy government included KTR's name as part of its efforts to gain favour.
Political Consequences
The situation has resulted in a political impasse between the ruling Congress party and the main opposition, with the BRS alleging that the government is targeting its officials.