The Anti-Corruption Bureau (ACB) has registered an FIR against former Telangana minister and BRS working president K.T. Rama Rao (KTR) in connection with alleged misuse of ₹55 crore in government funds during the high-profile Formula-E car racing event held in Hyderabad last year. Along with KTR, senior IAS officer Arvind Kumar and private company CEO BLN Reddy have also been named in the case.
The ACB has alleged that ₹55 crore in government funds were misused under KTR’s direct instructions, with payments to a foreign company made without approvals from the Finance Department, HMDA board, or the state Cabinet, in violation of RBI guidelines. These irregularities led to charges under the Prevention of Corruption Act (Sections 13(1)A & 13(2)) and the Indian Penal Code (Sections 409 for Criminal Breach of Trust and 120B for Criminal Conspiracy), all of which are non-bailable.
Telangana Governor Jishnu Dev Varma recently granted permission to initiate an investigation into KTR’s alleged involvement in the scam. Following this, Chief Secretary Shanti Kumari directed the ACB two days ago to begin a detailed probe into the matter. Acting on these directives, the ACB registered an FIR earlier today, naming KTR as Accused No. 1 (A-1), IAS officer Arvind Kumar as Accused No. 2 (A-2), and private company CEO BLN Reddy as Accused No. 3 (A-3).
Today, while speaking at Assembly, KTR demanded for discussion on Formula-E racing, if the Congress government has courage to reveal the truth to the public.
I challenge CM Revanth Reddy to hold a discussion in the ongoing Telangana Legislative Assembly session on the Formula E Race (Hyderabad E-Prix)
Why discuss this matter for 1 and half hours in Cabinet Meeting and plant silly media leaks?
Instead of discussing within confines… pic.twitter.com/QE5IRHhrKk
— KTR (@KTRBRS) December 18, 2024
The Congress government, which uncovered the irregularities, has accused the previous BRS regime of blatant corruption. Congress leaders claim the investigation will expose deeper financial mismanagement during KTR’s tenure.
