The Anti-Corruption Bureau (ACB) of Telangana has filed a major case against former minister KT Rama Rao (KTR) over the Formula E racing event in Hyderabad. The bureau has named KTR as the primary accused in a case involving ₹55 crore of questionable payments.
The ACB claims KTR gave verbal orders to transfer ₹55 crore to Formula E race organizers without following proper government procedures. This payment was allegedly made in British pounds without getting necessary clearance from the Reserve Bank of India.
In his defense, KTR strongly maintains that the Formula E event brought ₹700 crore in economic benefits to Telangana. He has written to Chief Minister Revanth Reddy requesting an open discussion in the Assembly about the case.
The investigation also names IAS officer Arvind Kumar as Accused No. 2 and HMDA Chief Engineer BLN Reddy as Accused No. 3 in the case. The Telangana Governor has given approval for the investigation to proceed.
KTR has dismissed the case as political targeting by the Congress government. He has publicly challenged the authorities, stating he is ready to face jail if required. KTR also demanded that a transparent discussion in the Legislative Assembly to reveal the complete truth about the Formula E event and related financial transactions.
