The Enforcement Directorate (ED) registered a money laundering case against Bharat Rashtra Samithi (BRS) working president KT Rama Rao (KTR) in the alleged Formula E fraud worth Rs 55 crore.
The case pertains to an alleged unauthorised transfer of Rs 55 crore from the Hyderabad Metropolitan Development Authority (HMDA) to Formula E Operations (FEO) without proper approvals.
The ED’s move follows an FIR filed by the Anti-Corruption Bureau (ACB) on Thursday, naming KTR as the prime accused. Other officials named in the FIR include former Municipal Administration special chief secretary Arvind Kumar as accused number two and HMDA chief engineer BLN Reddy.
The Telangana High Court on Friday, December 20 has granted the working president of the Bharat Rashtra Samithi (BRS), KT Rama Rao (KTR) relief from arrest in connection with the Formula E race ‘scam’ in Hyderabad until December 30.
However, the court has allowed the Anti-Corruption Bureau (ACB) to continue its investigation into the matter. KTR’s petition to quash the case will be heard next on December 27 and the state has been directed to submit its response by that date.
Earlier, KTR approached the Telangana HC seeking orders to quash the ACB case booked against him for alleged corruption in organising the Formula E race. He filed a petition before Justice Shravan Kumar’s Bench.
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