Thu Dec 19 11:40:00 UTC 2024: ## ACB Files FIR Against Telangana Minister KTR Over Formula E Race Funds
Hyderabad, Telangana – The Anti-Corruption Bureau (ACB) has registered a First Information Report (FIR) against K.T. Rama Rao (KTR), the former Minister for Information Technology and Municipal Administration in Telangana, sparking a major political uproar. The FIR, filed with the Governor’s approval following a letter from the Chief Secretary, alleges financial irregularities in connection with the Formula E race held in Hyderabad in February 2023.
KTR, along with IAS officer Arvind Kumar and BLN Reddy, CEO of a private company, are named as accused in the FIR. The ACB alleges that approximately ₹46 crore (approximately US$5.5 million) in foreign currency was disbursed without proper authorization during the organization of the internationally renowned event. The allegations center around the lack of cabinet approval for the funds allocated to private entities involved in the race.
The Governor’s approval for the FIR came after a month-long process. The ACB has registered the case under four sections of relevant laws. KTR has previously challenged the possibility of such an investigation.
The filing of the FIR has intensified political activity, with Congress party members expressing celebratory reactions. Speculation abounds about KTR’s potential arrest in the coming days. The case involves the agreement between the Telangana government, Formula E, and the company Next Gen. The race was jointly organized by the government and private entities at Hussain Sagar lakefront.
The investigation into the alleged misappropriation of funds related to the Formula E race is expected to unfold further, with significant political consequences for the ruling party in Telangana.
First Piper 