The Enforcement Directorate (ED) has filed a money laundering case against Telangana Minister and BRS leader KT Rama Rao (KTR) in connection with alleged payments made for the Formula-E race held in Hyderabad. The case stems from a broader investigation involving the payment of funds, some in foreign currency, for the event during the previous government’s tenure.
The ED’s move comes just hours after the Telangana High Court issued an interim order preventing the Anti-Corruption Bureau (ACB) from arresting KTR until December 30, 2023. The High Court’s ruling followed a Lunch Motion petition filed by KTR, seeking to quash the FIR registered by the ACB in relation to the Formula-E race.
In its order, the High Court granted interim relief to KTR, directing him to cooperate with the ongoing investigation. The matter was adjourned for further hearing next week, and the Telangana government was instructed to file a counter affidavit.
The Formula-E race case revolves around alleged unauthorized payments, including substantial foreign currency transactions, made to organize the event in Hyderabad. These payments were allegedly made without proper approvals, raising concerns about possible corruption and mismanagement of public funds.
The Telangana ACB registered the case on Thursday, naming KTR as the prime accused. Senior IAS officer Arvind Kumar and retired bureaucrat BLN Reddy were also named in the FIR. The charges include criminal breach of trust, conspiracy, and violations of the Prevention of Corruption Act.
Earlier, the Telangana government had sought an explanation from Arvind Kumar regarding his role in signing an agreement for the Formula-E race without the necessary approvals and the subsequent ₹55 crore payment, much of it in foreign currency.
Following this, Formula-E organizers announced the cancellation of the Hyderabad E-Prix, citing a breach of contract by the newly-formed Telangana government. The second Formula-E race, initially scheduled for February 10, is now in jeopardy.
 has filed a money laundering case against Telangana Minister and BRS leader KT Rama Rao (KTR) in connection with alleged payments made for the Formula-E race held in Hyderabad.){kind=link}