The Telangana Congress government has initiated a probe against BRS working president and former MAUD minister K.T. Rama Rao over alleged financial irregularities of Rs. 55 crore in the organisation of the Formula E race held in Hyderabad in February 2023. The investigation, approved by the state Cabinet, follows allegations of misappropriation of public funds during the previous BRS regime.
The Congress-led state government received approval from Telangana Governor Jishnu Dev Varma on December 12 to prosecute K.T. Rama Rao over allegations of fund misappropriation in the Formula E race scam. Following the Governor’s approval, the state Cabinet held a meeting on Monday, chaired by Chief Minister A. Revanth Reddy, directed chief secretary A. Santhi Kumari to instruct the Anti-Corruption Bureau (ACB) to initiate a formal investigation.
During an informal interaction with the media, Minister for Revenue and I&PR Ponguleti Srinivas Reddy confirmed that the Cabinet had discussed the scam extensively. According to Srinivas Reddy, the allegations include the illegal transfer of Rs. 55 crore from the Hyderabad Metropolitan Development Authority (HMDA) to the Formula E race organisers without obtaining the necessary approvals. He further revealed that former MAUD secretary Arvind Kumar, acting on oral instructions from KTR, authorised the transfer in clear violation of financial regulations.
The investigation is also expected to probe a second agreement, reportedly signed in October 2023, to host another Formula E race in February 2024. This agreement allegedly bypassed the Election Commission and the Finance Department’s approval, violating the Model Code of Conduct during election season. Notices are likely to be issued to organisations linked to the event, including Greenko, Mahindra Racing, and Jaguar TCS Racing, as part of the ACB probe.
Responding to threats from BRS leaders, who warned of unrest if KTR were arrested, Srinivas Reddy denounced their statements as “arrogant” and asserted that the rule of law would prevail.
The Formula E race scam has emerged as a major flashpoint in Telangana politics, casting a shadow over the BRS and its leadership. With the Congress government determined to hold those responsible accountable, the investigation is expected to gain momentum in the coming days.
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