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KTR Faces Case Over Rs 45-Crore Payment for Formula E Race in Hyderabad
KTR Faces Case Over Rs 45-Crore Payment for Formula E Race in Hyderabad
A case has been filed against KTR, son of CM K Chandrashekar Rao, over alleged financial irregularities in the Rs 45-crore payment for the Formula E race in Hyderabad.
A significant legal development has emerged as a case has been filed against K.T. Rama Rao (KTR), working president of Bharat Rashtra Samithi (BRS), in connection with alleged financial irregularities involving a Rs 45-crore payment for hosting the Formula E race in Hyderabad. The Telangana Anti-Corruption Bureau (ACB) has named KTR as the primary accused in the KTR case, along with former Municipal Administration and Urban Development (MAUD) secretary Arvind Kumar and Hyderabad Metropolitan Development Authority (HMDA) engineer BLN Reddy.
The K T Rama Rao formula race case centers on payments allegedly made to the Formula E Organisers (FOE) for the race held in February 2023, without proper clearance from the state Cabinet. The ACB claims the payments violated RBI guidelines, and the Reserve Bank of India later fined the Telangana government for unauthorized financial transactions. The fine was paid by the Congress government after coming to power in 2023, following an investigation into the alleged financial mismanagement.
KTR, the son of Telangana Chief Minister K Chandrashekar Rao, has strongly denied any wrongdoing, stating that the Formula E event was aimed at promoting Hyderabad globally. He defended his actions, asserting that the decision to host the race was made in the best interest of the city. KTR's supporters, including senior Hyderabad BRS leader T. Harish Rao, claim that the case is politically motivated, targeting KTR for his efforts to enhance Hyderabad's image on the global stage.
The K T Rama Rao case has sparked considerable debate, especially since it involves high-profile figures in Telangana's political landscape. KTR's critics allege that funds were mismanaged in the process of hosting the Formula E race, while KTR has maintained that he followed the necessary procedures and instructions. He also expressed willingness to face any legal consequences, stating that if any illegalities are found, he is ready to face jail.
The controversy continues to unfold in Hyderabad news, with the BRS party members and KTR supporters rallying behind him, while the opposition is pushing for further investigation into the matter. As the KTR case progresses, the focus remains on the legal and political implications surrounding this significant event.
