The Enforcement Directorate has summoned K.T. Rama Rao, the son of former chief minister K. Chandrashekar Rao, in connection with the probe linked to the alleged financial irregularities in the Hyderabad Formula E project involving the transfer of ₹45 crore to a foreign entity, sources said.
The agency, which registered a case last week, asked KTR, who is also the Bharat Rashtra Samithi (BRS) working president and former Telangana minister, to appear before it on January 7.
The ED is conducting an investigation under the Prevention of Money Laundering Act (PMLA) based on an FIR filed by Telangana police’s anti-corruption bureau in connection with alleged irregularities in bringing the Formula-E car racing event to Hyderabad in February 2023, an agency official said.
The agency is also probing if there were any Foreign Exchange Management Act (Fema) violations in the transfer of ₹45 crore to Formula-E Organisers, a foreign company.
On December 19, the anti-corruption bureau filed a case against KTR under the Prevention of Corruption Act and under Indian Penal Code Sections 409 (criminal breach of trust) and 120B (criminal conspiracy).
While KTR was named the primary accused, Arvind Kumar, the former principal secretary of the municipal administration and urban development department, and B.L.N. Reddy, a former Hyderabad Metropolitan Development Authority (HMDA) chief engineer, were named co-accused.
After taking cognisance of the anti-corruption bureau FIR, the ED filed a money laundering case against KTR, Kumar and Reddy.