ED quizzes KTR for seven hours in Formula-E case (Lead)

Hyderabad, Jan 16 The Enforcement Directorate (ED) officials questioned Bharat Rashtra Samithi (BRS) working president and former Telangana minister K.T. Rama Rao for about seven hours on Thursday in connection with the Formula-E race case.

The Central agency quizzed KTR regarding the transfer of Rs 45.7 crore from Hyderabad Metropolitan Development Authority (HMDA) to UK-based Formula-E Operations (FEO) in 2023 when he was the minister for Municipal Administration & Urban Development.

The ED officials reportedly questioned him on the basis of statements given by former Municipal Administration & Urban Development department special chief secretary Arvind Kumar and former chief engineer of HMDA B.L.N. Reddy, who were earlier questioned by the Central agency.

The ED is conducting the probe under the Prevention of Money Laundering Act (PMLA) based on the First Information Report (FIR) filed by the Anti-Corruption Bureau (ACB).

The Central agency is looking into possible violations of the Foreign Exchange Management Act (FEMA).

Talking to mediapersons after the questioning, KTR said while ACB asked him 80 questions last week, the ED asked 40 questions.

The BRS also dared Chief Minister A. Revanth Reddy for a lie detector test in front of judge and live media about each other’s ACB and ED cases instead of wasting public money.

He asked the Chief Minister to decide the date, place, and time for the same.

"Just because Revanth Reddy had ACB and ED case, he filed it against me. As a law-abiding citizen and despite the political vendetta and malafide intention, I will cooperate with investigative agencies,” he said.

The former minister said he came to know through a media report that the investigation in Formula-E race case would cost Rs 5 crore to Rs 10 crore and hence was making an offer to the Chief Minister for a lie detector test to save the public money.

"I will cooperate fully. I am going to be there no matter how many times they summon me. I asked the same question to ACB and ED, where is the case here? If from here, some money has gone somewhere and there is an account of that, then where are the fraud and corruption?. Where did the laundering happen?” he asked.

Reiterating that he has done nothing wrong and that he has full faith in the judiciary, KTR said ultimately truth will prevail.

“I have done nothing wrong and I will never do. If they prove that I did something wrong, I am ready for any punishment," he said