The controversy centers on allegations of financial mismanagement during the Formula E car race organized in Hyderabad. According to the ACB’s FIR, KTR has been identified as the primary accused (A-1), with charges under non-bailable sections including 13(1)A, 13(2) of the Prevention of Corruption Act, and IPC Sections 409 and 120B. The FIR claims that funds were transferred to the Formula E Operations (FEO) company in violation of RBI guidelines, bypassing necessary Cabinet and Finance Secretary approvals. The case also alleges misuse of public funds during the election code of conduct.

KTR Responds to Allegations

KTR has categorically dismissed the allegations, labeling them as politically motivated. He stated that the Formula E car race was organized to promote Telangana as a hub for electric vehicles and boost the state’s global reputation.

KTR recalled how the Chandrababu Naidu government had earlier attempted to bring Formula 1 racing to Hyderabad in 2001 but failed due to changing political dynamics. Under his leadership, the BRS government succeeded in hosting the Formula E race, which received widespread praise from national figures like Sachin Tendulkar, Anand Mahindra, and BJP Union Ministers.

He further clarified that the Hyderabad Metropolitan Development Authority (HMDA) paid ₹55 crore to the organizers as part of the project and challenged critics to prove any irregularities. KTR also highlighted that the organizers themselves agreed to refund ₹74 lakh in licensing fees after a canceled race.

Political Showdown

Amid the controversy, KTR has challenged opposition leader CM Revanth Reddy to cancel the ORR tender if he dares, further intensifying the political clash. He has also accused the government of avoiding a transparent discussion on the Formula E case in the Legislative Assembly.

Meanwhile, the ACB’s allegations have brought attention to the financial transactions surrounding the event, including claims of unauthorized fund transfers and bypassing governance protocols. KTR has declared that he will face the charges head-on, calling the case a politically motivated attack.

Impact on Telangana Politics

The controversy has fueled a war of words between ruling and opposition parties. While the opposition accuses the BRS government of corruption, the ruling party views the allegations as an attempt to tarnish its achievements.

As the investigation unfolds, the case promises to be a defining moment in Telangana politics, potentially shaping the narrative for upcoming elections.

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