<p>Hyderabad: Telangana's ACB on Thursday registered an FIR against BRS working president and former minister <a href="https://www.deccanherald.com/tags/k-t-rama-rao">K T Rama Rao</a> and two other senior government officials for alleged misuse of government funds and irregularities in organising the Formula E Race during the BRS regime.</p><p>The FIR names KTR as the prime accused, the then MA & UD secretary, A Arvind Kumar, as the second accused, and the former chief engineer of the Hyderabad Metropolitan Development Authority (HMDA), BLN Reddy, as the third accused.</p>.No corruption in Formula E Race event, says K T Rama Rao, seeks discussion in Telangana Assembly.<p>They were booked under Sections 13(1)(A) and 13(2) of the Prevention of Corruption Act, along with Sections 409 and 120(B) of the IPC. It is alleged that Rs 55 crore, including taxes, was paid by HMDA to the foreign company FEO in violation of RBI guidelines. The FIR also mentions a statement by Arvind Kumar, who said that he transferred the funds upon the instructions of the competent authority, the then MA&UD minister, KTR.<br><br>The payments were reportedly made without obtaining approvals from the Cabinet or the Finance Department. According to the FIR, HMDA paid Rs 55 crore in two installments to a foreign company, Formula E Organisers (FOE), in violation of RBI guidelines. The RBI imposed a fine of Rs 8 crore on the Telangana government for unauthorised transactions, which the Congress government later paid after assuming power.<br></p><p>KTR is accused of directing the misuse of authority, while Arvind Kumar and EX HMDA Chief Engineer BLN Reddy are also implicated.</p><p>Following a nod from the governor, Jishnu Dev Verma, to prosecute the BRS leader, state chief secretary A Santhi Kumari wrote to the ACB Director General on Tuesday to initiate a probe into KTR's role in the alleged misuse of funds.</p><p>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 the first in the four-race series planned on February 10 and 11 last year.</p><p>Ace Nxt Gen, the promoter, withdrew from Formula E, citing losses from the first season. Since the Formula E organizers were willing to organize 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 organizers.</p><p>However, ACB smelt irregularities in transferring the amount. The irregularities allegedly involve paying money to the organisers following the release of the Telangana Assembly elections schedule, without obtaining permission from the Election Commission, and making payments in pounds without RBI clearance.</p><p>After Congress came to power in December of last year, the Formula E organisers pulled out of conducting the second race scheduled for February of this year in Hyderabad.</p><p>The Hyderabad EPrix Formula E race scheduled its second edition for February 10, 2024. According to the race organisers, 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.</p><p>Reacting to the FIR, KTR in the state assembly on Thursday urged the speaker to allow discussion on the Formula E Race and said that he didn't do anything wrong.</p><p>Another BRS senior leader and former minister, T Harish Rao, said that KTR was being targeted and framed.</p>
<p>Hyderabad: Telangana's ACB on Thursday registered an FIR against BRS working president and former minister <a href="https://www.deccanherald.com/tags/k-t-rama-rao">K T Rama Rao</a> and two other senior government officials for alleged misuse of government funds and irregularities in organising the Formula E Race during the BRS regime.</p><p>The FIR names KTR as the prime accused, the then MA & UD secretary, A Arvind Kumar, as the second accused, and the former chief engineer of the Hyderabad Metropolitan Development Authority (HMDA), BLN Reddy, as the third accused.</p>.No corruption in Formula E Race event, says K T Rama Rao, seeks discussion in Telangana Assembly.<p>They were booked under Sections 13(1)(A) and 13(2) of the Prevention of Corruption Act, along with Sections 409 and 120(B) of the IPC. It is alleged that Rs 55 crore, including taxes, was paid by HMDA to the foreign company FEO in violation of RBI guidelines. The FIR also mentions a statement by Arvind Kumar, who said that he transferred the funds upon the instructions of the competent authority, the then MA&UD minister, KTR.<br><br>The payments were reportedly made without obtaining approvals from the Cabinet or the Finance Department. According to the FIR, HMDA paid Rs 55 crore in two installments to a foreign company, Formula E Organisers (FOE), in violation of RBI guidelines. The RBI imposed a fine of Rs 8 crore on the Telangana government for unauthorised transactions, which the Congress government later paid after assuming power.<br></p><p>KTR is accused of directing the misuse of authority, while Arvind Kumar and EX HMDA Chief Engineer BLN Reddy are also implicated.</p><p>Following a nod from the governor, Jishnu Dev Verma, to prosecute the BRS leader, state chief secretary A Santhi Kumari wrote to the ACB Director General on Tuesday to initiate a probe into KTR's role in the alleged misuse of funds.</p><p>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 the first in the four-race series planned on February 10 and 11 last year.</p><p>Ace Nxt Gen, the promoter, withdrew from Formula E, citing losses from the first season. Since the Formula E organizers were willing to organize 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 organizers.</p><p>However, ACB smelt irregularities in transferring the amount. The irregularities allegedly involve paying money to the organisers following the release of the Telangana Assembly elections schedule, without obtaining permission from the Election Commission, and making payments in pounds without RBI clearance.</p><p>After Congress came to power in December of last year, the Formula E organisers pulled out of conducting the second race scheduled for February of this year in Hyderabad.</p><p>The Hyderabad EPrix Formula E race scheduled its second edition for February 10, 2024. According to the race organisers, 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.</p><p>Reacting to the FIR, KTR in the state assembly on Thursday urged the speaker to allow discussion on the Formula E Race and said that he didn't do anything wrong.</p><p>Another BRS senior leader and former minister, T Harish Rao, said that KTR was being targeted and framed.</p>