Formula E race case: ACB summons KTR

Hyderabad: The Formula E race case once again came into limelight with the Anti-Corruption Bureau (ACB) issuing a notice on Monday to BRS working president KT Rama Rao and summoning him to appear before the probing agency on Wednesday.

In a quick response, the Bharat Rashtra Samithi (BRS) leader took to his X handle and said he is ready to cooperate with the ACB in the investigation.

“The ACB has given me a notice to appear before it for an enquiry on May 28 in the Formula E case. As a law-abiding citizen, I will definitely cooperate with the agencies even though the case is nothing but pure political harassment. As I have planned to leave for the UK & USA for multiple events much in advance, I will appear before the agency the moment I come back,” he said. The BRS leader further said: “Informed the same to ACB officials in writing. But I should appreciate Revanth Reddy for his thirst for political vendetta and the way he swings in any direction without any scruples, to achieve the same.”

Meanwhile, the ACB gathered adequate evidence of the alleged misuse of funds from the Hyderabad Metropolitan Development Authority (HMDA) for the Formula E race.

KT Rama Rao, who is also former Municipal Administration and Urban Development Minister, and former MA and UD secretary Arvind Kumar and former HMDA chief engineer BLN Reddy were facing charges of releasing Rs 55 crore to the e- car racing company without government approval.

“The agency established the role of KTR and the officials in the payment of a hefty amount to the company without following the official procedure,” sources told Hans India, adding that the ACB officials also recorded the statement of the Formula E racing company and obtained documentary evidence, considered to be crucial for the case. The officials said that clean energy firm Greenko had spent Rs 150 crore and Hyderabad Racing Limited Rs 30 crore on the first race which was held in February 2023. The HMDA also spent Rs 20 crore to develop the road track and other infrastructure. The MA and UD officials signed an agreement with the Formula-E Operator (FEO) in October 2023 to hold it once again (Session-10) on February 10, 2024. For this, the HMDA has paid Rs 55 crore to the FEO.