K.T. Rama Rao
Hyderabad: A day after the Anti-Corruption Bureau (ACB) registered a case on the alleged E Formula race scam naming BRS working president and former minister K.T. Rama Rao as prime accused, officials from the Enforcement Directorate (ED) have taken up the probe based on the agency’s FIR.
ED officials also registered cases against senior IAS officer Arvind Kumar and former HMDA employee B.L.N. Reddy for their alleged role in the irregularities. Incidentally, this is the second case against the IAS officer after the ED’s case in connection with the land irregularities for which he was also questioned.
Sources said that the ED would investigate the case under Foreign Exchange Management Act (FEMA) for the Rs 54.88 crore transaction with UK-based Formula E Operations Limited without getting approvals from authorised agencies. It will also focus on the funds that were transferred without following the due process involved in foreign remittances.
The investigation agency will initiate the probe by collecting the FIR copy, documents related to formula racing, agreements made between the then government and Formula E Operations Limited, transactions of funds, including deposits.
ED officials also registered cases against senior IAS officer Arvind Kumar and former HMDA employee B.L.N. Reddy for their alleged role in the irregularities. Incidentally, this is the second case against the IAS officer after the ED’s case in connection with the land irregularities for which he was also questioned.
Sources said that the ED would investigate the case under Foreign Exchange Management Act (FEMA) for the Rs 54.88 crore transaction with UK-based Formula E Operations Limited without getting approvals from authorised agencies. It will also focus on the funds that were transferred without following the due process involved in foreign remittances.
The investigation agency will initiate the probe by collecting the FIR copy, documents related to formula racing, agreements made between the then government and Formula E Operations Limited, transactions of funds, including deposits.
Reportedly, the ED registered the cases by an Enforcement Case Information Report (ECIR) under the relevant sections.
( Source : Deccan Chronicle )
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