KTR Denies Allegations Over Formula-E Race, Calls Them Baseless
Hyderabad: BRS working president and former minister K.T. Rama Rao (KTR) has dismissed the accusations against him regarding the Formula-E car race as “mere allegations without any factual basis.”
In a statement on Saturday, KTR clarified that the decision to host the Formula-E Season 10 was made during the tenure of the previous BRS government. He explained that the event was organized due to a lack of sponsors and emphasized that there was “neither any conspiracy nor any corruption” involved. According to him, the initiative aimed to enhance Hyderabad’s global image and was a policy decision intended to continue in future seasons as well.
KTR also pointed out that the Election Commission had not raised any objections or issued notices related to the event, suggesting there was no violation of the election code. Addressing Congress leaders, he questioned the basis of their allegations and their claims of speaking on behalf of the Election Commission.
Regarding financial concerns, KTR clarified that the Rs. 8 crore mentioned by the current ruling party were tax returns that sponsors would cover. He asserted that all payments related to the event were made through Indian Overseas Bank and adhered to the rules.
Lastly, KTR stated that any financial losses linked to the Formula-E event were a result of irrational decisions made by the current ruling party. He also criticized Chief Minister Revanth Reddy for what he described as a lack of foresight in handling the matter.
