Formula E Case: KTR Faces Intense ED Questioning for Seven Hours
K.T. Rama Rao (KTR), the Working President of the Bharat Rashtra Samithi (BRS), appeared before the Enforcement Directorate (ED) today in connection with the Formula E car race case, in which he is listed as the prime accused (A1). KTR arrived at the ED office at 10:30 AM and was questioned for over seven hours.
Sources indicate that during the interrogation, the ED officials granted KTR a lunch break before resuming their questioning. The investigation focused primarily on the transfer of ₹45 crore (approximately £4.5 million) to a foreign company without cabinet approval during the organization of the Formula E car race.
Officials questioned KTR on various financial transactions, particularly why the Hyderabad Metropolitan Development Authority (HMDA) was chosen as a partner for the second season of the race, replacing Ace Next, the partner from the first season. Further inquiries revolved around alleged violations of the Foreign Exchange Management Act (FEMA) related to fund transfers and irregularities in HMDA's financial dealings.
Despite speculation about a possible arrest following the interrogation, KTR was allowed to leave after completing the formalities, which included signing statements related to the inquiry. He exited the ED office late in the evening.
Meanwhile, significant numbers of BRS supporters had gathered around the ED office to show their solidarity with KTR. Police deployed heavy security to manage the crowd and ensure public order.
Sources indicate that during the interrogation, the ED officials granted KTR a lunch break before resuming their questioning. The investigation focused primarily on the transfer of ₹45 crore (approximately £4.5 million) to a foreign company without cabinet approval during the organization of the Formula E car race.
Officials questioned KTR on various financial transactions, particularly why the Hyderabad Metropolitan Development Authority (HMDA) was chosen as a partner for the second season of the race, replacing Ace Next, the partner from the first season. Further inquiries revolved around alleged violations of the Foreign Exchange Management Act (FEMA) related to fund transfers and irregularities in HMDA's financial dealings.
Despite speculation about a possible arrest following the interrogation, KTR was allowed to leave after completing the formalities, which included signing statements related to the inquiry. He exited the ED office late in the evening.
Meanwhile, significant numbers of BRS supporters had gathered around the ED office to show their solidarity with KTR. Police deployed heavy security to manage the crowd and ensure public order.