Thu Dec 19 11:40:00 UTC 2024: **Hyderabad: Former Minister KTR, IAS Officer Named in Formula E Race Case**
HYDERABAD, December 19, 2024 – The Anti-Corruption Bureau (ACB) of Telangana has filed a case against former Minister and BRS working president K.T. Rama Rao (KTR), IAS officer Arvind Kumar, and the CEO of a private company, B.L.N. Reddy, in connection with alleged financial irregularities in the Formula E car race held in Hyderabad in February 2023.
The case stems from an investigation launched by the newly formed Congress government into the allocation of approximately ₹55 crore (approximately US$6.7 million) to a foreign company for the race. The investigation revealed that the funds were released without the necessary approvals from the finance department and other relevant departments. The ACB alleges misappropriation of funds and financial irregularities.
The Governor’s permission, required to file cases against public representatives, was granted three days prior to the filing of the FIR. The Chief Secretary also directed the ACB to investigate the matter two days prior. KTR has been named as A1, Arvind Kumar as A2, and B.L.N. Reddy as A3 in the FIR. The ACB is expected to issue notices to the three individuals and potentially conduct further investigations, including potentially issuing notices to the foreign company involved. The investigation is ongoing. The race, initially held on February 11, 2023, was scheduled to have a second installment in February 2024, but was cancelled after a change in government.
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