Telangana Governor Jishnu Dev Varma approved the prosecution of KT Rama Rao (KTR), former state minister and Bharat Rashtra Samithi (BRS) working president, for allegedly misusing Rs 55 crore during the Hyderabad Formula E race.
Following the approval, the state cabinet, led by Chief Minister Revanth Reddy, directed the Chief Secretary to send the clearance to the Anti-Corruption Bureau (ACB) for further investigation under Section 17A of the Prevention of Corruption Act.
The ACB is expected to file a First Information Report (FIR) soon. KTR, former Principal Secretary Arvind Kumar, and Hyderabad Metropolitan Development Authority Chief Engineer BLN Reddy are likely to be named in the case.
The case involves alleged financial irregularities during the second Formula E racing event held under the previous BRS government. The accusations raise serious concerns about the prior administration’s financial accountability.
The matter revolves around payment of Rs 55 crore to the organisers of the event, without following due procedure.
KTR claimed that he ordered the release of money from the HMDA and issued instructions to the then Principal Secretary Arvind Kumar. The Formula E-race was part of the programme under the Telangana E-Mobility week, scheduled for February this year.
The 2024 race was cancelled, allegedly due to a breach of contract by Telangana’s Municipal Administration and Urban Development Department after the new government, led by Congress, did not fulfil the Host City Agreement signed in October 2023.
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