Hyderabad: The Formula E race in Hyderabad has recently sparked intense debate in political circles. The Anti-Corruption Bureau (ACB) is now seeking Governor Jishnu Dev Varma’s approval to probe KT Rama Rao, known as KTR.
The case revolves around alleged fund mismanagement involving Rs 55 crore allocated to the Formula E Operations (FEO) race, which was scheduled to take place earlier this year.
ACB’s case against KTR, top officials
The ACB’s case in the Formula E race in Hyderabad stems from suspected fund transfers made without necessary approvals. According to reports, these transfers bypassed crucial protocols, allegedly taking place without permissions from the Hyderabad Metropolitan Development Authority (HMDA), finance department approvals, or even a cabinet nod. The inquiry also extends to former Municipal Administration and Urban Development (MAUD) secretary Arvind Kumar.
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The matter arose in February during the Formula E race in Hyderabad, part of its ninth season. While the race gained international attention, it was later canceled, leading to heightened scrutiny over the funds linked to the event.
The HMDA voiced concerns about the Rs 55 crore allocated to FEO.
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Chief Minister A. Revanth Reddy emphasized that this probe is strictly an anti-corruption matter rather than a political maneuver. “How can such a substantial fund transfer take place without transparency? It is crucial to identify everyone involved,” the Chief Minister noted, underscoring the need for accountability.
In response to the allegations, KTR has defended his position, asserting that both the Congress and the BJP are using this issue to target him for political gains. He dismissed the accusations as politically motivated, remarking, “I am prepared to face jail if needed. I’ll use that time to stay fit and even plan a padayatra.”.
Meanwhile, the ACB awaits the Governor’s approval to proceed formally. However, it continues to gather evidence and assess the involvement of key individuals in the fund distribution for the Formula E race.
The investigation is likely to intensify Telangana’s political climate.
As this case unfolds, it has put a spotlight on the management of large-scale events like the Formula E race in Hyderabad, underscoring the importance of transparent financial practices. With ACB’s probe awaiting a green signal, the outcome could have far-reaching implications, not only for KTR but also for public trust in the processes governing such high-profile events in Telangana.
