The Enforcement Directorate (ED) has issued summons to Bharata Rashtra Samithi (BRS) working president and former Telangana Minister, KT Rama Rao, to appear before it on Jan 7, 2025 in connection with `illegal’ transfer of ₹45 cr to a foreign entity in Formula E race case.
Arvind Kumar, former principal secretary of the Municipal Administration and Urban Development (MAUD) department, and B L N Reddy, a former Hyderabad Metropolitan Development Authority (HMDA) chief engineer, have also been asked to appear before them on January 2 and 3.
The ED’s investigation has come in the wake of a First Information Report (FIR) filed by Telangana’s Anti Corruption Bureau on alleged irregularities in bringing the Formula-E car racing event to Hyderabad in February 2023.
The ED is also investigating if there were any Foreign Exchange Management Act (FEMA) violations in the transfer of ₹45 crore to Formula-E Organisers (FOE), a foreign company.
It is also probing if there were any Foreign Exchange Management Act (FEMA) violations in the transfer of ₹45 crore to Formula-E Organisers (FOE), a foreign company.