The Enforcement Directorate (ED) on Friday filed a money laundering case against the BRS leader KT Rama Rao and others in a case linked to alleged payment irregularities in the Formula-E race. An Enforcement Case Information Report (ECIR) has been registered under various sections of the Prevention of Money Laundering Act in line with the Telangana Police Anti-corruption Bureau (ACB) FIR filed on Thursday. The alleged corruption case is linked to the Formula-E race held in Hyderabad in February 2023.
Case against KT Rama Rao
Telangana Anti-Corruption Bureau (ACB) on Thursday registered a case against BRS working president and MLA KT Rama Rao regarding alleged payments, including unauthorised foreign currency transactions, for organising the Formula-E race in Hyderabad.
This development comes hours after the Telangana High Court's order that directed ACB officials to not arrest BRS leader till December 30 in this case.
Formula-E race case
The case against KT Rama Rao pertains to alleged payments of about Rs 55 crore, some of it in foreign currency without approvals, to conduct a Formula-E race in Hyderabad.
As per the case registered by ACB, BRS leader and party working President KT Rama Rao, the son of former Telangana chief minister K Chandrashekhar Rao, has been named as accused number 1, followed by senior IAS officer Arvind Kumar and retired bureaucrat BLN Reddy as accused numbers 2 and 3, respectively.
KT Rama Rao denies the allegations
48-year-old Rama Rao denied any corruption involved in the case and said, "Where is the corruption in this? We have paid Rs 55 crore. They (Formula-E) acknowledged the payment."
"The HMDA (Hyderabad Metropolitan Development Authority) has an account in the Indian Overseas Bank and money has been transferred from that account," he added.
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(With PTI inputs)
