Hyderabad, Jan 16 Ahead of his appearance before the Enforcement Directorate (ED) in the Formula-E race case on Thursday, Bharat Rashtra Samithi (BRS) working president and former minister K. T. Rama Rao denied that there was any corruption, misappropriation or money laundering in the deal to host the event.
Rama Rao posted his statement on the social media platform 'X'.
"Hosting Formula E in India/Telangana/Hyderabad remains one of my most cherished decisions as a Minister. The pride I felt, witnessing international racers and E-Mobility industry leaders praise our city, is memorable. No amount of frivolous cases, cheap mudslinging, or political witch-hunting can erase that sense of accomplishment For me, Brand Hyderabad is paramount- yesterday, today, tomorrow, and always. Formula E elevated our city on the international sporting stage. It takes vision, passion, and genuine love for one's city and state to understand the significance of such initiatives," said KTR, as the BRS leader is popularly known.
"Setting the record straight: Rs 46 crore was paid to Formula E Operations Limited (FEO) through a transparent bank-to-bank transaction. Not a single rupee was misappropriated and every rupee is accounted for Where is the alleged corruption, misappropriation, money laundering?" he asked.
KTR slammed Chief Minister Reddy for cancelling the event for the second year saying this caused a loss to the exchequer.
"If anything, the shortsightedness of CM Revanth Reddy and his thoughtless, unilateral decision to cancel the second year of the event that has caused a loss to the exchequer. Even though there is No wrongdoing, driven by malice and political vendetta, Congress Govt is hell-bent on dragging these well-documented events through the courts and investigating agencies," he said.
"I am confident that the truth will soon be revealed for all to see, including the honourable courts Until then, we'll continue to fight for justice," he added.
KTR's statement came just ahead of his appearance before the ED, which is probing alleged money laundering in the case.
The Supreme Court on Wednesday dismissed KTR's petition to quash the First Information Report (FIR) registered by the Anti-Corruption Bureau (ACB).
KTR had last week appeared before the ACB, which is likely to summon him again for questioning.
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