The Enforcement Directorate (ED) has joined the investigation into the Formula E-car racing case in Telangana, following an FIR filed by the Anti-Corruption Bureau (ACB). The ED has registered an Enforcement Case Information Report (ECIR) based on the ACB’s FIR, and has launched an inquiry under the Prevention of Money Laundering Act. The case targets prominent figures, including K.T. Rama Rao (KTR), IAS officer Arvind Kumar, and BLN Reddy, in connection with the alleged misuse of Rs. 55 crore for the Formula E event held in Hyderabad. The ED will now investigate the financial transactions involved and identify any individuals or entities linked to the alleged financial misconduct. This development adds a significant layer to the ongoing probe into the controversy surrounding the event’s funding and organization.
