HYDERABAD: A day after the ACB filed a chargesheet naming him Accused No. 1 (A1) in the Formula E case, former minister KT Rama Rao on Tuesday launched stinging criticism against the Congress government, accusing it of diversionary politics and misleading the public on key issues.
The BRS working president, in a chitchat with the media in the Assembly, alleged that the Formula E case chargesheet is a deliberate attempt by the Congress government to divert public attention from the BRS’s demand to grant legal status to the “Six Guarantees” through a Private Member’s Bill.
He further stated that the government was cornered after the BRS exposed that the first file signed by the Chief Minister was missing. Reiterating his stand, Rama Rao said the Formula E case is “completely baseless” and lacks substance.
He pointed out that even the government has admitted in its chargesheet that there was no wrongdoing. He once again clarified that the Rs 45 crore transferred from a bank in Telangana remains in the designated account and that not a single rupee has been diverted. He accused the government of exaggerating facts and misleading the public. “They are projecting Rs 45 crore as Rs 600–Rs 700 crore to create confusion. The people of Telangana will not believe such fabricated claims,” he said.
Rama Rao also questioned why no individual has been named as a beneficiary in the chargesheet and suggested that the government could retrieve the funds if required, as they remain secure in the organisation’s account.
Rama Rao said the Formula E race was brought to Hyderabad to enhance the city’s global reputation and attract large-scale investments in the electric vehicle sector. He said the event generated nearly Rs 700 crore in economic benefits within a week, as confirmed by Nielsen.
“It was a prestigious event that positioned Hyderabad on the global map,” he added. The former minister alleged that Rs 100 crore was spent on a football match for the chief minister’s personal interest and `10 crore was misused from Singareni, yet no cases were registered.
He also criticised the government over controversies surrounding beauty pageants, stating that they brought no benefit to Telangana and damaged the state’s reputation following allegations made by Miss UK. He expressed confidence that the Formula E case would not stand in court and accused the government of targeting him with political vendetta by harassing officials.
Rama Rao also described TDR as “a massive scam”. I clearly stated a year and a half ago that Revanth Reddy’s family members and his associates are buying TDRs indiscriminately and are setting the stage for a huge scam. Even during last year’s Budget session, I mentioned that they are purchasing TDRs and would later bring in regulations making their use mandatory. Exactly as predicted, the Congress government has now introduced new real estate regulations directing companies to purchase TDRs.”
He said that once his party returns to power, it will conduct a comprehensive investigation into the alleged scam and expose the role of Revanth’s family members and relatives.
ACB files constitutional violations in Formula E case chargesheet
Some more details emerged on Tuesday regarding the chargesheet filed by the ACB in the Formula E case on Monday. The ACB mentions in the chargesheet that there was a violation of Articles 166(1) and 299 of the Constitution in organising the Formula E race. Sources said the accused also failed to follow the prescribed procedures. According to sources, there was a quid pro quo in which Rs 54.88 crore was allegedly diverted illegally to a foreign company.
The ACB chargesheet names former Municipal Administration minister KT Rama Rao as A1, former special chief secretary Arvind Kumar as A2, HMDA’s then chief engineer BLN Reddy as A3, former sports consultant Kiran Malleshwar as A4, and UK-based Formula E Operations Limited (FEO) as A5. The chargesheet says that the accused violated the Telangana Secretariat Business Rules and the Finance Code by not obtaining Cabinet approval before making payments to foreign entities.
They also did not inform the Election Commission about these transactions. Police said an agreement was signed on October 30, 2023, during the Model Code of Conduct period for the State Legislative Assembly elections. The agreement, committing the government to financial obligations of around Rs 600 crore over three years, was executed without prior approval from the Election Commission of India. At the time, it was projected as yielding benefits of Rs 700 crore.