Hyderabad: The Telangana High Court has provided temporary relief to former Minister for Municipal Administration and Urban Development (MA&UD), K.T. Rama Rao (KTR), in the Formula-E race case. The court directed the police not to arrest him until December 30. However, on Friday, the Enforcement Directorate (ED) registered a case against him and two other officials, launching an investigation into alleged irregularities in payments made to an e-racing company.
The ED has also written to the Anti-Corruption Bureau (ACB), requesting all details related to the Formula-E race conducted during the Bharat Rashtra Samithi (BRS) government’s tenure. This comes after the ACB had already filed a First Information Report (FIR) and initiated its own probe into the matter.
According to sources, the ED is preparing to file an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act (PMLA). The case is linked to financial irregularities surrounding the Formula-E race held in Hyderabad in February 2023. Once the ED files the case, it is likely that KTR and the two officials will be summoned for questioning to gather more information.
The investigation aims to determine whether KTR was involved in alleged corruption in transferring funds from the government treasury for organizing the racing event. The ED will analyze details provided by the ACB to assess the extent of the irregularities.
In the meantime, MA&UD Secretary Dana Kishore submitted a report to the ACB on behalf of the state government. This report is part of the ongoing probe into the alleged financial discrepancies.
Sources indicate that the MA&UD secretary informed the ACB about financial transactions made between the government and the e-racing company without formal state government approval. He also shared details of the communication between the company and the government officials. These discussions are expected to play a crucial role in the investigation.
