KTR to Appear Before ACB Court in Formula E Race Case
BRS leader K T Rama Rao will appear before the ACB Special Court as legal proceedings continue in the Formula E race case involving alleged financial irregularities in Hyderabad.
A significant development is expected in the Formula E race case as BRS Working President and former Telangana minister K T Rama Rao is scheduled to appear before the ACB Special Court in Nampally on Friday. His appearance comes in response to summons issued by the court as part of the ongoing legal proceedings.
The case relates to the organisation of the Formula E race held in Hyderabad during the previous BRS government. The Anti Corruption Bureau has alleged that financial rules were violated while funds were released for the event without obtaining the required cabinet approval.
According to the ACB, nearly Rs 55 crore was transferred from Hyderabad Metropolitan Development Authority funds to London based Formula E Operations. Investigators claim the transfer was made in violation of established procedures and have alleged that officials acted under pressure while processing the payment.
The ACB has named K T Rama Rao as the first accused in the case. Former Municipal Administration Principal Secretary Arvind Kumar and former HMDA Chief Engineer BLN Reddy, along with a few others, have also been named in the chargesheet in connection with the alleged irregularities.
All accused have been directed to appear before the court to complete the legal process. Since no arrests have been made in the case so far, attention is focused on the court proceedings and the decisions that may follow during the next stage of the investigation.
