The Anti-Corruption Bureau (ACB) of Telangana on Monday served its second summons to Bharat Rashtra Samithi (BRS) chief executive KT Rama Rao (KTR) in a case related to alleged irregularities in the conduct of the Formula-E race in Hyderabad 2023.
The ACB has asked KTR to appear before the panel at its office in Hyderabad on January 9. The summons was issued after KTR skipped questioning by the anti-corruption agency after being denied permission to have his lawyer present during the investigation.
Meanwhile, the executive officer of KTR was also summoned by the Enforcement Directorate (ED) for questioning on January 7 in a money laundering case related to alleged malfeasance during the Formula-E race held in Hyderabad in February 2023.
However, according to sources, Rao has sought more time from the federal agency, party sources said on Monday.
The state agency filed an enforcement information report (ECIR) or FIR in December, 2024 in a case under various sections of the Prevention of Money Laundering Act (PMLA), taking cognizance of a complaint by the Telangana Police Anti-corruption Bureau (ACB).
Rama Rao, son of former Telangana chief minister K Chandrasekhar Rao, has been asked to depose to record his statement on January 7.
The investigation against 48-year-old Rao, popularly known as KTR, is related to the alleged payment of Rs 55 crore, some of it in foreign currency without permission, to conduct the Formula-E race in Hyderabad during the previous BRS regime in February 2023. .
The Enforcement Directorate also investigates foreign exchange violations under the provisions of the Foreign Exchange Management Act (FEMA), according to sources.
Rao denied wrongdoing, saying, “Where is the corruption in this? We paid Rs 55 million. They (Formula-E) have accepted the payment.”