According to KTR's team, he gave detailed answers to several aspects of the case during the prolonged interrogation at the ED office. He responded to all the questions and assured them that he would attend any future inquiries
Published Jan 16, 2025 | 9:31 PM ⚊ Updated Jan 16, 2025 | 9:31 PM
KTR emerges from ED office after 7-hour grilling, challenges Revanth Reddy to lie detector test
BRS working president K T Rama Rao emerged from the Enforcement Directorate’s Hyderabad office at 5.30 p.m. on Thursday evening, 16 January, after seven hour-long grilling by the officials of the central probe agency into his role in the financial irregularities in the Formula E Race case.
As the day-long questioning continued inside the office, tension was palpable outside, with the BRS workers waiting for the procedure to end quickly. What added to the tension was the speculation that the ED might arrest him after the questioning.
When KTR emerged from the office, BRS party workers and leaders heaved a sigh of relief. After KTR spoke to the media persons and left the office, they too left for their homes, raising slogans in support of the party and their leader.
KTR revealed that during his seven-hour questioning by ED officials, he was asked the same set of questions about 40 times, albeit phrased differently. He provided all the information regarding the fresh deal for Season 10 of the Formula E race and the transfer of funds to UK-based Formula E Operations. Maintaining his innocence, KTR expressed his willingness to undergo a lie-detector test, challenging Chief Minister A. Revanth Reddy to do the same.
KTR’s team confirmed that he provided detailed answers to various aspects of the case and assured authorities he would cooperate with future inquiries. They also highlighted his respect for the Indian Constitution and judicial system, noting that KTR obtained a receipt from the ED for two key documents he submitted: a report by Nielsen on Formula E and the Telangana Electric Vehicle Policy of 2020.
Nielsen came out with its report after the first edition of Formula-E race was conducted, which stated that the event generated USD 82 million in economic benefits for the state’s economy.
He also shared a copy of the Telangana Electric Vehicle (EV) Policy, announced by the government in October 2020, explaining that it aimed to establish Telangana as the hub of mobility with alternative fuel resources and a grand vision for the mobility sector.
Under this policy, the state initiated the Telangana Mobility Valley and conducted the Formula-E race as part of a long-term agenda to promote EV manufacturing and attract investments in the sector.
KTR, the team said, emphasised that the Formula-E race, organised by the state government, not only benefited Telangana but also enhanced the nation’s global reputation.
KTR also brought to ED’s notice that he had mentioned that several Union Ministers, including Hardeep Singh Puri, Nitin Gadkari, Anurag Thakur, and Kishan Reddy, also attended the event, reflecting its national significance.
He clarified that there were no financial irregularities, misappropriation, or corruption involved in the entire process. All funds transferred from the government to the Formula-E organisers were accounted for, with clear records. He emphasised that the funds reached the organisation directly, eliminating any scope for corruption.
KTR’s team said that during the inquiry, the ED officials sought information related to his personal bank accounts and assets. He assured the ED that he would provide all the requested details.
After the interrogation, KTR, speaking to media persons, dared Chief Minister A Revanth Reddy whether he was ready to take a lie detector test along with him.
“I am ready for a lie detector test. Let him also come for a lie detector test. Let us sit in front of a judge. I do not mind which place, which date or time. I am ready to go to Revanth Reddy’s Jubilee Hills Palace. I want the truth to come out,” he said.
The BRS working president said he was not afraid since he had not done anything wrong. “There was no corruption in the entire deal, not even a half-paisa. I believe in the justice delivery system in the country. I am ready to cooperate with the investigation agencies. I will attend questioning any number of times because I am clean and I have profound regard for judicial and investigative institutions. Revanth Reddy has slapped this case on me because he was facing an ACB and ED case after he was caught with ₹50 lakh slush money in the vote for note case,” he said.
KTR also said that he did not see the justification for spending upto ₹10 crore on investigation into the case which does not have any merit. Let Revanth Reddy use the money to pay Rythu Bharosa to about 500 farmers more or pay it as social security pension to the deserving senior citizens, he said.
According to sources, the sleuths of ED tried to probe if there were any violations of Foreign Exchange Management Act (FEMA) or Prevention of Money Laundering Act (PMLA) in the entire process of transferring MHDA funds to Formula E operations, the organisers of Formula E Race in Hyderabad.
The officials tried to probe at what stage violations took place in transferring of ₹46 crore (excluding taxes) in foreign exchange to Formula E Operations and whether KTR or the BRS was in any way beneficiary of any kickbacks in the deal. They also tried to learn why AceNxtGen, subsidiary of Greenko, had backed out of the race after sponsoring the first season (season 9)in February 2023 and why instead of taking action against Greenko or AceNxtGen, the then state government had brought in HMDA to take the role of a sponsor.
(Edited by Ananya Rao)
