New Delhi [India], December 28: The Enforcement Directorate (ED) has issued a summons to former Telangana Minister KT Rama Rao (KTR) to appear before the agency on January 7 in connection with a money laundering investigation related to alleged financial irregularities surrounding the Formula-E race held in Hyderabad in February 2023, official sources confirmed.
This development follows the ED’s registration of an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act (PMLA) against KTR and others. The action came after the Telangana Anti-Corruption Bureau (ACB) filed a First Information Report (FIR) against KTR, a prominent leader of the Bharat Rashtra Samithi (BRS), in connection with the funding of the Formula-E race.
The FIR, approved by Telangana Governor Jishnu Dev Varma, names KTR as the primary accused, with senior IAS officer Arvind Kumar and retired bureaucrat BLN Reddy listed as secondary accused. The ACB’s investigation focuses on alleged unauthorized payments, including foreign currency transactions, made to conduct the race.
The case was registered on December 19 under various sections of the Prevention of Corruption Act and relevant sections of the Indian Penal Code related to criminal breach of trust and conspiracy. On December 20, the Telangana High Court instructed the ACB not to arrest KTR until December 30, 2024, as the investigation continues.