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TMI BlogFormula-E race case: BRS leader KTR appears before ED for questioningX X X X Extracts X X X X X X X X Extracts X X X X ..... Formula-E race case: BRS leader KTR appears before ED for questioning - PTI News Dated:- 16-1-2025 PTI - News - Formula-E race case: BRS leader KTR appears before ED for questioning - - - Dated:- 16-1-2025 - Hyderabad, Jan 16 (PTI) BRS working president K T Rama Rao on Thursday appeared before the Enforcement Directorate here for questioning in a money laundering case related to the Formula-E race ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... event. Rao, who was the Municipal Administration Minister in the previous BRS regime, said hosting Formula E race in Hyderabad remains one of his most cherished decisions as a minister. Ahead of his appearance before the ED, Rao in a post on 'X' said : "no amount of frivolous cases, cheap mudslinging, or political witch-hunting can erase that sense of accomplishment." The BRS leader claimed even ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... though there is no wrongdoing, driven by "malice and political vendetta", the ruling Congress government in Telangana is hell-bent on dragging these well-documented events through the courts and investigating agencies. Rao, popularly known as KTR, was earlier issued summons to appear before the ED on January 7. However, he had requested two weeks and was subsequently given a new date to appear on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... January 16. Accordingly, he appeared before the ED. Rao arrived at the ED office at 10.30 am. Police made elaborate security arrangements near the office. Large number of BRS leaders and workers gathered at the probe agency office, but were subsequently taken away by police. Senior IAS officer Arvind Kumar and former HMDA chief engineer BLN Reddy, had recently appeared before the ED over the same ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case. The probe by the federal agency is linked to alleged irregularities in payments for the proposed Formula-E race event to be held in Hyderabad in 2024. The agency filed an Enforcement Case Information Report (ECIR), or FIR, recently under various sections of the Prevention of Money Laundering Act (PMLA) after taking cognizance of a complaint by the Telangana Anti-Corruption Bureau (ACB). The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... probe against Rao pertains to alleged irregularities in payments amounting to about Rs 55 crore, most of which were in foreign currency, in "violation of laid-down procedures" during the previous BRS regime, for the event planned for 2024. Rao said Rs 46 crore was paid to Formula E Operations Limited (FEO) through a transparent bank-to-bank transaction and not a single rupee was misappropriated an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d every rupee is accounted for. Attacking Telangana Chief Minister A Revanth Reddy, the BRS leader asserted, "Where is the alleged corruption, misappropriation, money laundering? If anything, the shortsightedness of CM Revanth Reddy & his thoughtless, unilateral decision to cancel the second year of the event that has caused a loss to the exchequer". "I am confident that the truth will soon be rev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ealed for all to see, including the honourable courts. Until then, we'll continue to fight for justice," he said. The Formula-E race was held in Hyderabad in February 2023. Although the race was initially planned for 2024, it was cancelled after the Congress government assumed office in December 2023. Rao, the prime accused in the case filed by the ACB over alleged irregularities in the Formula-E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... race, was questioned by the agency on January 9. In December 2024, the ACB registered a case against Rao, senior IAS officer Arvind Kumar, and retired bureaucrat and former Hyderabad Metropolitan Development Authority (HMDA) chief engineer B L N Reddy. The FIR was filed under relevant sections of the Prevention of Corruption Act and the IPC, dealing with criminal misappropriation, criminal miscond ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uct, criminal breach of trust, and criminal conspiracy. These alleged actions resulted in a loss to the government exchequer to the tune of about Rs 55 crore. PTI VVK GDK KH - - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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