ED Takes Lead Over ACB: Notices Issued to KTR in Formula E Case

DECCAN FREEDOM NEWS

HYDERABAD 

DEC 28

In a swift move, the Enforcement Directorate (ED) has issued notices to Telangana Minister K.T. Rama Rao (KTR) in connection with the Formula E race funds transfer case, even as the Anti-Corruption Bureau (ACB) investigates the matter. While the ACB filed an FIR and initiated its probe, the ED acted decisively by summoning KTR for questioning on January 7, raising concerns within the BRS camp.

The notices also extend to IAS officer Arvind Kumar and former HMDA Chief Engineer BLN Reddy, who have been directed to appear before the ED on January 2 and 3, respectively. The ED is investigating the alleged violation of FEMA regulations and illicit transfer of ₹55 crores abroad, based on the ACB’s FIR and under the Prevention of Money Laundering Act (PMLA).

While the ACB’s focus is on corruption allegations, KTR has denied any wrongdoing, arguing that there was no corruption involved. However, the ED’s probe centers on financial irregularities and illegal fund transfers, which KTR acknowledges occurred but claims were unrelated to him. The ED’s aggressive approach compared to the ACB’s measured investigation has sparked unease among BRS leaders.

The ED’s findings will be pivotal in determining the outcome of this high-profile case, with the BRS government facing mounting pressure as the investigation unfolds. The developments have set the stage for intense scrutiny in the weeks to come.