BRS Leader K T Rama Rao Summoned Over Formula-E Racing Funds

The Enforcement Directorate has summoned BRS leader K T Rama Rao regarding a money laundering probe linked to the Formula-E race held in Hyderabad. KTR failed to appear on a previous date and has been asked to depose on January 16. The investigation involves alleged payment irregularities totaling Rs 55 crore.

The Enforcement Directorate has issued a new summons to Bharat Rashtra Samithi leader K T Rama Rao, commonly known as KTR, in a money laundering investigation tied to the Formula-E race hosted in Hyderabad in February 2023. KTR, who did not appear as scheduled, has been asked to attend on January 16, according to official sources.

The federal inquiry stems from allegations of payment irregularities surrounding the race, with claims of unauthorized transactions totaling approximately Rs 55 crore, some involving foreign currency. The case emerged after the Telangana Police Anti-Corruption Bureau submitted a complaint, prompting the Directorate to file an Enforcement Case Information Report under the Prevention of Money Laundering Act.

The Telangana High Court recently denied KTR's appeal to dismiss the Anti-Corruption Bureau's FIR, lifting protections against his arrest. Concurrently, senior IAS officer Arvind Kumar and former bureaucrat B L N Reddy received fresh summons, set for January 9 and January 8, respectively.

(With inputs from agencies.)