KTR Appears Before Nampally Court in Formula E Race Case Hearing

The hearing in the high profile Formula E Race case witnessed a key development after the Nampally ACB Special Court adjourned the proceedings until August 25. BRS Working President K T Rama Rao, who has been named as the first accused in the case, appeared before the court along with senior IAS officer Arvind Kumar and other accused.

Large numbers of BRS leaders and supporters gathered near the court premises to express solidarity with KTR. The heavy turnout led to traffic congestion around the Nampally area as police managed security and crowd control during the court proceedings.

The Anti Corruption Bureau has alleged that more than Rs 55 crore from HMDA funds was improperly utilized for organizing the Formula E Race, including expenses related to the racing event, track development and associated infrastructure. Investigators claim the expenditure was made without following the prescribed administrative procedures.

According to the agency, several financial transactions were allegedly carried out without obtaining mandatory approvals. The investigation further claims that expenses meant to cover multiple seasons were reflected as costs for a single event, raising concerns over financial transparency and compliance with government rules.

The ACB has also alleged that transfers involving overseas entities did not follow applicable Reserve Bank of India guidelines and domestic tax regulations. As a result, the agency claims the state exchequer incurred an additional tax burden of about Rs 8.06 crore.

After securing the required prosecution approvals from the state government, the Anti Corruption Bureau filed its chargesheet before the special court. The matter will now return for further hearing on August 25 as legal proceedings continue.