ED notice for KTR in formula e-car race case
RSD- Hyderabad news: BRS working president KTR has been shocked in the Formula E-car race case that has created severe political turmoil in the state. The ED has issued notices to KTR. It has been stated in the notices that he should appear for investigation on January 7th 2025. Similarly, ED officials have also issued notices to senior IAS officer Arvind Kumar and former HMDA chief engineer BLN Reddy, who are accused in this case. The ED has stated in the notices that they should appear for investigation on January 2nd and 3rd 2025. The ED will investigate the Formula E-car racing case under PMLA based on the ACB FIR. The ED has determined that there have been violations of FEMA regulations in this matter. The ED suspects that there has been a cash transfer of Rs. 55 crore to the FEO and financial irregularities. It seems that ED has sent notices to former minister KTR in this context. ED officials have increased their aggression in the Formula E-car race case. Based on the case already registered by ACB officials, ED officials have registered a case under ECIR (Enforcement Case Information Report). In this order, the ED has recently issued notices to KTR to appear for questioning on January 7th 2025. Similarly, ED officials have issued notices to Arvind Kumar to appear for questioning on January 2nd 2025 and to BLN Reddy to appear on January 3rd 2025. ACB officials have already registered cases against KTR, Arvind Kumar and BLN Reddy under various sections. However, KTR has approached the Telangana High Court. KTR filed a quash petition in the High Court on the 21st of December 2024, seeking to quash the cases registered against him by the ACB. The bench, which took up the hearing on this petition, issued orders not to arrest KTR till the 30th of December 2024. The final hearing has been postponed to the 31st December 2024. The issue of how KTR will react to the ED notices has become interesting. Will KTR respond to the ED official’s notices and attend the hearing. Will he approach the High Court challenging the notices has become a topic of discussion. On the other hand. ED officials have intensified their investigation. Why was the money transferred against RBI rules? Did the FEMA Act provisions violate the transfer of money to the FEO company? The ED investigation is likely to proceed from this perspective. Who approved it? Was there cabinet approval? Was there financial department approval or not? ED officials will investigate. There is a possibility that ED officials will record Dana Kishore’s statement and collect more details regarding this case.
