Formula-E Case: Is There Any Substance In Case Against KTR?

Former Minister K Taraka Ramarao attended the court for the first time after the ACB filed Chargesheet in the Formula E case.

According to the Chargesheet, funds for conducting Formula E Season 10 were released without obtaining mandatory approvals from the Finance and Law Departments or the State Cabinet.

The ACB in the Chargesheet mentioned that the accused bypassed prescribed government procedures while executing agreements related to the event.

The chargesheet states that the alleged irregularities caused a direct loss of ₹54.88 crore to the HMDA. It also claims that the agreements imposed an additional financial burden of nearly ₹600 crore on the state government.

And then, the ACB alleged Quid Pro Quo as the Private Firm, S Next Gen received undue benefits through the agreements. Greenko Group that organized the Season in Hyderabad allegedly donated huge money to the BRS via electoral bonds.

The court took cognisance of the chargesheet and has directed KTR to furnish a personal bond of ₹1 lakh along with two sureties. The matter was adjourned to August 25 for further proceedings.

The trial of the case will begin soon and if the ACB was able to establish the wrong-doings in this case, KTR can be in trouble.

The BRS claims that there is no corruption in this issue but admits that there are some procedural lapses bypassed to bring a World-class event to Hyderabad.

Revanth Reddy has two years to push the trial and frame KTR in this case. KTR is the A1 in this case while IAS Arvind Kumar is A2 and Chief Engineer BLN Reddy is A3.