Daijiworld Media Network - Hyderabad
Hyderabad, Jan 7: The Enforcement Directorate (ED) has issued fresh summons to Bharat Rashtra Samithi (BRS) leader K T Rama Rao (KTR) in connection with an ongoing money laundering probe related to the Formula-E race held in Hyderabad in February 2023.
The 48-year-old BRS working president was initially summoned for questioning on January 7 but sought a two-week extension. Consequently, the federal agency has now scheduled his deposition for January 16, official sources said.
The investigation stems from alleged payment irregularities amounting to ?55 cr, including transactions in foreign currency, without requisite approvals during the Formula-E event.
The ED’s case is based on an Enforcement Case Information Report (ECIR) filed under the Prevention of Money Laundering Act (PMLA), taking cognisance of a complaint lodged by the Telangana police Anti-Corruption Bureau (ACB).
In a major legal setback, the Telangana high court on Tuesday dismissed KTR's plea to quash the ACB FIR and revoked the interim protection against arrest granted earlier.
Meanwhile, senior IAS officer Arvind Kumar and former HMDA chief engineer B L N Reddy have also been summoned to appear before the agency on January 8 and 9, respectively.
The Formula-E event, which marked a milestone in Hyderabad’s sports calendar, has come under scrutiny for alleged financial mismanagement during the previous regime.