ACB Books KTR In The Formula-E Car Race Scam

Hyderabad, Dec 19 (Maxim News): The Anti Corruption Bureau (ACB) has registered a case against BRS working president and former minister K. Tarak Rama Rao in the Formula E-car race case.

Former Minister KTR asks Telangana Assembly Speaker for a discussion on the Formula E Race, as ACB names him in a case involving an alleged ₹55 crore scam with a London-based company. Political tensions rise as arrest rumors swirl. #KTR #FormulaERace #ACBCase #TelanganaPolitics pic.twitter.com/BrSr8yeuAz

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KTR’s name has been included as AI in this case. The ACB has included senior IAS officer Arvind Kumar as A2 and HMDA Chief Engineer BLN Reddy as A3.  Cases have been registered under 13(1)A, 13(2) PC Act. A case has also been registered under sections 409 and 120B. It is noteworthy that 4 sections are non-bailable cases. The ACB has registered these cases under the ‘prevention of Corruption’ Act, There is concern in the BRS ranks after a case was registered against former minister KTR.

Case registered against KTR in the Formula E car race affair because, during the previous BRS government, Rs. 55 crore was paid to foreign companies for the organization of the Formula E race. However, there are allegations that HMDA funds were diverted to foreign companies without any permission from the government at that time.  At that time, KTR was the Minister of Municipal Affairs. The state government wrote a letter to the Governor on this matter, The Municipal Department also complained to the ACB.

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The ACB inquired into the bank transactions made for the Formula-E race, in the name of a strategy to attract investments, the previous government established a special track around Hussain Sagar and organized the Formula-E racing by prohibiting traffic. I spent a lot on this.  

It has been revealed that Arvind Kumar, a senior official who played a key role in the previous BRS government, made this deal in a roundabout way.  It has been revealed that Rs. 55 crore was paid in advance for the race management without the permission of the cabinet, That too at a time when the election code was in force, and all this was done only through phones.

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Car racing (Formula Race Season 9 event) was organized in 2023 near IMAX around the very busy Tank Bund.  This caused a stir in the people of Hyderabad.  At that time, HMDA spent Rs. 20 crore on racing roads and other infrastructure, and a private agency called NextGen, which was the promoter of the race, spent about Rs. 150 crore.  Along with the campaign, the agency bore all the other expenses such as stalls, seating, and street lights, A tripartite agreement was made between HMDA Next Gen, and Formula-E companies for the organization of the Season 9 event.  Neither HMDA nor Next Gen made any profit from the organization of Season 9 but suffered a huge loss. (Maxim News)

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