BRS Working President K.T. Rama Rao has clarified that he has no involvement in any financial transactions related to Formula E car racing. In an affidavit submitted to the High Court today, KTR denied any connection with the agreements or payments associated with the event. The Anti-Corruption Bureau (ACB) is currently investigating the case. In response, KTR has filed a quash petition seeking the dismissal of the charges against him, with the ACB filing a counter to this petition.
In his affidavit, KTR emphasized that, as a minister, he was not responsible for overseeing the execution of contracts and that any issues related to payments for foreign entities should be handled by the relevant bank. He also pointed out that before promoting Formula E car racing, legal considerations regarding payments were addressed by the Hyderabad Urban Development Authority (HUDA). Additionally, KTR noted that any payments exceeding ₹10 crore would require Cabinet approval, as per HUDA regulations. He further stated that, in his capacity as the Minister for Municipal Administration and Urban Development, he had no involvement in the matter.
