Hyderabad: BRS Working President and former Minister K.T. Rama Rao, commonly known as KTR, appeared before the Anti-Corruption Bureau (ACB) today for questioning regarding the Formula E race held in Hyderabad in 2023. The ACB is investigating alleged unauthorized payments amounting to approximately ₹55 crore for the event.
Prior to his appearance, KTR addressed the media, emphasizing his dedication to enhancing Hyderabad’s global reputation. He stated, “Worked tirelessly for bringing a prestigious event to India, to enhance the brand image of Hyderabad & Telangana globally.” He further explained that his objective was to position Hyderabad as a central hub for sustainable mobility, aligning with global trends.
The ACB’s investigation centers on the transfer of ₹54.88 crore from the Hyderabad Metropolitan Development Authority (HMDA) to Formula E Operations (FEO) for the 2023 race. Allegations suggest that these funds were transferred without proper authorization and in violation of financial norms.
KTR has consistently defended his actions, asserting that the Formula E race was integral to his vision of making Hyderabad a pivotal hub for sustainable mobility. He expressed confidence that the people of Telangana would recognize the truth and his commitment to the state’s progress.
The ACB’s inquiry continues, with KTR’s testimony expected to play a crucial role in clarifying the circumstances surrounding the event’s funding and organization.
Source: Web Team, C6N
