Hyderabad: The Anti-Corruption Bureau (ACB) has filed a case against former Telangana IT Minister K.T. Rama Rao (KTR) over alleged irregularities linked to the Formula E-race event. The issue came to attention during court proceedings, where the Advocate General (AG) pointed out suspicious payments made to Formula E Operations (FEO).
The Advocate General revealed that the Hyderabad Metropolitan Development Authority (HMDA), which was not directly involved in organizing the event, had transferred ₹55 crores to FEO. This raised questions from the judiciary about the purpose of the payments and who benefitted from them. The court also specifically asked whether KTR had gained any personal advantages from these transactions.
In response, the Advocate General stated that a detailed investigation would reveal who actually benefitted from the alleged misappropriations. The court, however, ruled that the case did not require urgent attention, allowing the investigation to proceed under standard procedures.
This case has sparked concerns about the transparency of financial dealings in large-scale events and the proper use of public funds. Further updates on the investigation are awaited as the inquiry continues.
