ED summons K T Rama Rao on January 7 in Formula E race case
The ED is conducting an investigation based on an FIR over alleged irregularities in bringing the Formula E car racing event to Hyderabad in February 2023.
The Formula E race case relates to the alleged mismanagement of funds and payments made when K T Rama Rao was the Telangana minister for MAUD, which had worked towards bringing the car racing event to Hyderabad in February 2023. (File Photo: X) The Enforcement Directorate (ED) has issued summons to Bharat Rashtra Samithi (BRS) working president and former Telangana minister K T Rama Rao to appear before it on January 7 in connection with the Formula E race case involving the transfer of Rs 45 crore to a foreign entity.
The ED has also asked IAS officer Arvind Kumar, former principal secretary of the Municipal Administration and Urban Development (MAUD) department, and B L N Reddy, a former Hyderabad Metropolitan Development Authority (HMDA) chief engineer, to appear before it on January 2 and 3, respectively.
The ED is conducting an investigation under the Prevention of Money Laundering Act (PMLA) based on an FIR filed by the Telangana Police’s Anti-Corruption Bureau (ACB) in connection with alleged irregularities in bringing the Formula-E car racing event to Hyderabad in February 2023. The ED is also investigating if there were any Foreign Exchange Management Act (FEMA) violations in the transfer of Rs 45 crore to Formula-E Organisers (FOE), a foreign company.
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