KTR appears before ACB again in Formula-E Racing fund misuse case
Hyderabad, June 16 (UNI) Bharat Rashtra Samithi (BRS) Working President K T Rama Rao (KTR) appeared before the Anti-Corruption Bureau (ACB) officials on Monday in connection with the ongoing investigation into alleged irregularities related to the Formula-E car racing event.
The hearing began at 1000 hours at the ACB office in Banjara Hills. KTR arrived at Telangana Bhavan by 0900 hours and later proceeded to the ACB office accompanied by his legal counsel, Ramachandra Rao. The ACB had issued a summons to him on June 13.
This marks KTR's second appearance before the ACB in the case. He was previously questioned for nearly six and a half hours on January 9. The case pertains to the alleged misappropriation of government funds during the BRS regime to support the Formula-E race in Hyderabad.
Posting on X (formerly Twitter) on Friday, KTR said, 'I have been summoned by the ACB to appear for investigation on Monday at 1000 hours in the Formula-E race case, where Rs 44 crore was transferred from bank to bank, and the money is very much in the account of FE. As a law-abiding citizen, I will attend and fully cooperate with the ACB officials.'
According to the FIR filed by the ACB, the Hyderabad Metropolitan Development Authority (HMDA) allegedly transferred funds amounting to Rs 44 crore to London-based Formula E Operations (FEO) in violation of established procedures. The payment was reportedly made as the state's share for sponsoring the second edition of the Formula-E race in Hyderabad.
While the first edition in early 2023 was sponsored by the private firm Ace Nxt Gen, the company is said to have declined to support the second edition. Subsequently, KTR, who was then Minister for Municipal Administration and Urban Development (MAUD), allegedly directed senior officials to ensure that HMDA covered the costs. ACB officials claim that this was done without following due process.
The ACB has already questioned several key individuals, including former MAUD Principal Secretary Arvind Kumar, and representatives from Ace Nxt Gen and FEO.
Meanwhile, the BRS has strongly criticised the investigation, calling it politically motivated. Party leaders have demanded a fair and transparent probe, alleging that the case is being used as a tool for a political vendetta.
Through a post on the social media platform X, KTR expressed strong displeasure against the Congress government.
He stated that the ongoing enquiries, commissions, and what he described as political harassment by the Congress party would not deter them.
KTR affirmed that these actions would not stop the BRS from exposing the government's alleged failure in implementing the promised six guarantees.
He further accused the Congress of deceiving the public with what he termed "420 promises and declarations," and asserted that no matter how many conspiracies are hatched, they will not succeed in silencing the BRS.
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