BRS Working President K T Rama Rao.
Credit: PTI Photo
Hyderabad: All eyes are on Telangana's Raj Bhavan as the governor, Jishnu Dev Verma, is yet to give a nod to the Anti-Corruption Bureau (ACB) to prosecute sitting MLA and BRS working president, KT Rama Rao, in connection with a case filed over alleged financial irregularities in conducting Formula E races in Hyderabad when the BRS was in power.
ACB alleged that KTR, as the then municipal administration minister, had instructed the transfer of approximately Rs 55 crore to the organisers of the race without following proper laid-down procedures.
Chief minister A Revanth Reddy alleged that an 'understanding' between the BJP and BRS is delaying the governor's nod to prosecute KTR.
The Congress has been asserting that KTR's recent two-day trip to Delhi was intended to meet with BJP top brass in an attempt to bail him out of the current situation, given that the governor is a former BJP leader.
ACB had sought permission to prosecute KTR under Section 17A of the Prevention of Corruption Act, 2018.
“I have told you many times to do whatever you want regarding the Formula E-race. File a case if you want to. Is it like I'm going to Delhi to bargain with the BJP? When Revanth Reddy meets the Governor, who also belongs to the BJP, isn't that like he is going for bargaining? Tell me, didn't Ponguleti Srinivas Reddy avoid an ED case against him by falling at Adani's feet? I went to Delhi to expose the scams of the Anumula family. I'll continue to expose their scams in the future as well,” KTR said on Wednesday.
To conduct four races of the Hyderabad EPrix Formula E , the Municipal Administration department under the BRS government signed a tripartite agreement with Formula E Organisers and Ace Nxt Gen Pvt Limited in 2022. Hyderabad hosted the ninth season of the car race which was first in the four race series planned on February 10 and 11 last year.
The promoter, Ace Nxt Gen, who was supposed to finance four races of the Formula E, dropped out, citing losses in the first season. Since the Formula E organisers were willing to organise the next season, the then principal secretary of the Municipal Administration Department, Arvind Kumar, on the advice of the then Municipal Minister, KTR, transferred Rs 55 crore, including Rs 9 crore as taxes, to the organisers.
However, ACB smelled irregularities in transferring the amount. The irregularities include allegedly paying a single tranche of money to the organisers after the Telangana Assembly elections schedule was released, without obtaining permission from the Election Commission, and making payments in pounds without RBI clearance.
Cong govt cancelled agreement
After Congress came to power in December of last year, the Formula E organisers pulled out of conducting the second race scheduled for February this year in Hyderabad.
The Hyderabad EPrix Formula E race scheduled its second edition for February 10, 2024. The Municipal Administration and Urban Development Department (MA&UD) of the Telangana government, which signed the host city agreement on October 30, 2023, made the decision to cancel the race, according to the race organisers.
They have also served notice to MA & UD for breach of contract. The Hyderabad E-Prix would have been the only official FIA World Championship event in India in 2024 and was part of a multi-year agreement between Formula E and the Government of Telangana.
In February last year, Hyderabad hosted a round of the FIA Formula E championship, an all-electric single-seater championship that had helped Brand Hyderabad’ notch up one level.
The first race of the year took place in the streets of Hyderabad, close to Hussain Sagar Lake.