Formula E Probe: KT Rama Rao Faces Fresh ACB Scrutiny
The ongoing investigation into the Formula E racing event in Hyderabad has taken a new turn with Telangana ACB summoning BRS leader KT Rama Rao for questioning. KTR, as he is popularly known, appeared before the ACB on Monday, amidst allegations of irregularities in the use of foreign currency during the 2023 event.
The Formula E race, which was held in Hyderabad in November 2023, was a major sporting event that saw some of the world’s top drivers take part. However, the event has been embroiled in controversy, with allegations of corruption and irregularities surrounding the use of foreign currency. The Telangana ACB has been investigating the matter, and KTR’s appearance before them is seen as a significant development in the probe.
KTR, who is also the working president of the Telangana Pradesh Congress Committee, has been accused of being involved in the alleged irregularities. He has, however, denied any wrongdoing, and has accused the Congress party of trying to deflect attention from their unmet poll promises.
“I am being unfairly targeted by the ACB and the Congress party is behind this,” KTR said in a statement. “I have done nothing wrong and I am willing to cooperate with the investigation. I am confident that the truth will come out and I will be cleared of all allegations.”
The ACB has been investigating allegations that foreign currency was used to fund the Formula E event, which is a violation of the Foreign Exchange Management Act (FEMA). The agency has also been looking into allegations of irregularities in the use of public funds for the event.
KTR has defended the Formula E event, saying that it was a key part of Hyderabad’s efforts to establish itself as a global city. He has also vowed to cooperate fully with the investigation, and has even offered to undergo a lie detector test.
“I am willing to do anything to clear my name and to ensure that the truth comes out,” KTR said. “I have done nothing wrong and I am confident that the investigation will prove it.”
The Formula E race was a major success, with over 200,000 people attending the event over the three days. However, the controversy surrounding the event has cast a shadow over the city’s efforts to promote itself as a major sporting destination.
The Telangana government has been accused of misusing public funds to promote the event, and there have been allegations of corruption and irregularities in the use of foreign currency. The ACB investigation is ongoing, and it is expected to take several more weeks to complete.
In conclusion, the Formula E probe has taken a new turn with KT Rama Rao facing fresh scrutiny from the ACB. KTR has denied any wrongdoing and has accused the Congress party of trying to deflect attention from their unmet poll promises. The investigation is ongoing, and it remains to be seen what the outcome will be.
Source: https://thecsrjournal.in/formula-e-controversy-ktr-questioned-again-by-acb/
