KTR Submits Affidavit in Formula E-Car Case, Denies Role in Financial Transactions

BRS Working President and Telangana Minister K.T. Rama Rao (KTR) has stated that he has no connection with payments made in the Formula E-car racing matter. KTR submitted an affidavit to this effect in the Telangana High Court today. The case, which is under investigation by the Anti-Corruption Bureau (ACB), revolves around allegations of financial irregularities in the promotion of the Formula E event.

In response to the case filed against him, KTR has moved a quash petition in the High Court, requesting the dismissal of the charges. The ACB has already filed a counter affidavit in this regard.

In his affidavit, KTR asserted that he had no role in the implementation of agreements or financial transactions related to the Formula E event. He clarified that his responsibilities as a minister do not extend to the procedural aspects of agreement execution. He also stated that matters related to granting permissions for payments to foreign entities fall under the purview of the respective banks.

KTR further mentioned that any legal issues concerning payments prior to the promotion of the Formula E event were handled by the Hyderabad Metropolitan Development Authority (HMDA). He added that HMDA regulations do not mandate cabinet approval for payments exceeding ₹10 crore. As the Minister for Municipal Administration and Urban Development, KTR emphasized that he has no involvement in this matter.