ED Summons KT Rama Rao in Hyderabad Formula-E Money Laundering Case

The Enforcement Directorate summons former Telangana Minister KT Rama Rao in a money laundering case related to financial irregularities in the Hyderabad Formula-E event. The agency's move follows the Telangana Anti-Corruption Bureau's FIR against KTR, prompting an investigation into unauthorized payments during the race planning.

The Enforcement Directorate (ED) has summoned former Telangana Minister KT Rama Rao (KTR) to appear before the agency on January 7, as part of a money laundering probe tied to alleged financial irregularities during the Formula-E race held in Hyderabad in February 2023, as confirmed by official sources.

This development follows the ED's registration of an enforcement case information report (ECIR) under the Prevention of Money Laundering Act (PMLA), targeting KTR and other involved parties. The case was initiated after the Telangana Anti-Corruption Bureau (ACB) lodged a First Information Report (FIR) against Bharat Rashtra Samithi (BRS) leader KTR and associates over the Formula-E funding issues.

Telangana Governor Jishnu Dev Varma gave the green light for the case against KTR, naming him as the main accused, and identifying senior IAS officer Arvind Kumar and retired bureaucrat BLN Reddy as additional accused. Prior court directives had temporarily shielded KTR from arrest until December 30 following the ACB's case on alleged unauthorized payments for the race.

(With inputs from agencies.)