Date: December 17, 2024
ACB Files Case Against KTR in Formula E Scandal
ACB Files Case Against KTR in Formula E Scandal Over 55 Crore Funds
The Anti-Corruption Bureau (ACB) has officially filed a ACB Files case against BRS working president KTR regarding the alleged Formula E scandal. This comes after months of scrutiny, with investigating agencies closely monitoring the matter in Telangana.
Verbal Consent for Fund Transfer
According to reports, KTR is accused of verbally approving the transfer of ₹55 crore of government funds to foreign event organizers. The issue relates to financial irregularities in the Formula E event held in Hyderabad in February 2023.
The key development in the case came when former MAUD principal secretary. Arvind Kumar, admitted to transferring the funds based on KTR’s verbal orders. This statement became a turning point, prompting the ACB to officially register the case.
Telangana Cabinet’s Role in the Investigation of ACB Files Case
The Telangana cabinet played a crucial role in escalating the investigation. The cabinet directed the Chief Secretary to take action, leading to the involvement of the ACB. Following the cabinet’s recommendation, the Anti-Corruption Bureau promptly filed a case against KTR.
The case also received backing from Governor Jishnu Dev Varma. Who recently granted permission to prosecute KTR over the financial irregularities linked to the Formula E races.
KTR Under ACB Radar
With the case now registered, all eyes are on the ACB’s next move. It is expected that the bureau will soon summon KTR for questioning regarding his alleged involvement in the unauthorized fund transfer.
The ACB is focusing on KTR’s alleged role in siphoning ₹55 crores from the Telangana government exchequer to private entities under the guise of organizing the Formula E event.
What’s Next for KTR?
This case has placed KTR under significant pressure, both politically and legally. His verbal approval for the controversial fund transfer is at the center of the scandal. With the ACB already filing charges, an official investigation and summons appear imminent.
The unfolding events will likely have serious implications for KTR and the BRS party, especially with increased scrutiny from opposition parties and the media.
Conclusion
The Formula E scandal continues to make headlines, and the ACB’s decision to file a case against KTR marks a significant step forward in the investigation. As developments unfold, the political repercussions of the alleged ₹55 crore fund transfer will remain a key issue in Telangana’s political landscape.