FIR Against KT Rama Rao Over Financial Irregularities In Hosting Formula E Race

Hyderabad: The Anti-Corruption Bureau (ACB) on Thursday registered an FIR against Bharat Rashtra Samithi (BRS) working president and former Telangana minister K T Rama Rao (KTR) over allegations of irregularities in the conduct of the Formula-E race held in Hyderabad during the previous regime, in February 2023.

KTR has been named as the prime accused. Others named in the FIR are former Municipal Administration and Urban Development (MAUD) principal secretary Arvind Kumar and ex-Hyderabad Metropolitan Development Authority (HMDA) chief engineer B L N Reddy.

The charges include mismanagement of funds, breach of trust and violations of the Prevention of Corruption Act.

Telangana Governor Jishnu Dev Varma recently granted permission to prosecute KTR in the case.

As per the FIR, former chief minister K Chandrashekar Rao’s (KCR) son KTR authorised payments to Formula-E Organisers (FOE), a foreign company, without clearance of the state cabinet. HMDA reportedly transferred Rs 45 crore in two instalments, violating RBI guidelines. Consequently, RBI slapped a Rs 8 crore fine on the Telangana government, which was later paid by the Congress government after assuming office in December 2023.

KTR who served as Municipal Administration Minister during the BRS regime, was a key player in the staging of first Formula-E race in Hyderabad. The second edition of the race, scheduled for February 2024, was cancelled after the Congress government came to power.

KTR said he would address the matter legally.