It is known that the farmer IT minister of Telangana KTR had been facing legal charges in the infamous formula car race case. The Anti Corruption Bureau (ACB) and the Enforcement Directorate (ED) have been actively pursuing the case.
As per the latest reports, KTR has received summons by the ED in this case. He has been summoned by the investigative agency to appear for investigation on January 7.
Other accused in the case, Arvind Kumar and BLN Reddy asked to appear for investigation on January 2, and 3 respectively.
The primary base for the investigation by the ED will be regarding the prevention of money laundering act charges that were filed by the ACB in the first place.
The ED has also initiated a parallel investigation under the Foreign Exchange Management Act (FEMA) to examine possible violations, including unauthorized fund transfers abroad and adherence to foreign exchange regulations.
This is the first time that KTR has officially been summoned in this case, and this could mark the beginning of what could be heated and intense legal course of action.
The allegation here is that KTR verbally consented the transfer of ₹55 to a foreign company during the signing of Formula E contract without mandatory approvals from the cabinet and finance department.
This post was last modified on 28 December 2024 10:02 am
There are many Indians holding key roles in US politics, while several tech professionals, especially…
Aditya Dhar is a brilliant filmmaker. There is no two opinions about it. He proved…
At the 2026 Gaddar Film Awards, Megastar Chiranjeevi praised Telangana for reviving state honors. He…
Gopichand is doing a film with Ghazi fame Sankalp Reddy which is almost completed. Sources…
Dhurandhar 2 starring Ranveer Singh has created box office history by crossing ₹100 crore on…
Dhurandhar 2 has not only taken the box office by storm but has also won…