The ED investigation into the Formula-E Race case concluded at its office in Basheerbagh here, after a seven-hour session from 10:30 am to 5:30 pm.
Addressing the media afterwards, BRS Working President KT Rama Rao (KTR) reiterated his commitment to cooperating with investigative agencies and issued a strong challenge to Chief Minister Revanth Reddy. KTR said while the ACB asked 80-plus questions, the ED asked around 40-plus questions.
KTR challenged Revanth Reddy to a live debate and lie detector test on the Formula-E Race case and the ‘Vote for Note’ scandal.
He said the debate should be held in the presence of the media and judicial authority. “If Revanth thinks he is innocent, let him face the public and the judiciary with me. I am ready to answer any questions regarding the Formula-E Race, and he must answer questions about the ‘Vote for Note’ case.”
KTR emphasised that such a transparent discussion would save public funds. “Instead of wasting Rs 10 crore on false allegations and inquiries, let the truth be revealed for Rs 50 lakh.”
Expressing his regard for the Constitution and the judiciary, KTR said, “I have immense faith in the judicial system. I have provided comprehensive answers to the ED and ACB. Not a single rupee of corruption occurred in the Formula-E project, and all transactions are transparent.”
He reiterated his willingness to cooperate fully with the investigation, no matter how many times he is summoned.
KTR submitted two key documents to the ED during the inquiry. A report prepared by Nielsen on the Formula-E Race, which highlighted the USD 82 million economic benefit to Telangana. A copy of the Telangana Electric Vehicle Policy – 2020, showcasing the state’s grand vision of promoting EV manufacturing and establishing the Telangana Mobility Valley.
KTR said the Formula-E Race was organised to attract investments in the EV sector and position Telangana as a mobility hub.
Highlighting the event’s national importance, KTR said that Union Ministers Hardeep Singh Puri, Nitin Gadkari, Anurag Thakur and Kishan Reddy attended the Formula-E Race event, adding credibility to its execution and benefits.
He clarified that funds were transferred directly from the TG government to the Formula-E organizers without any middlemen or financial misappropriation. “The records clearly show that all transactions were transparent. There is no scope for corruption in this case,” he asserted.
During the inquiry, ED officials sought details of KTR’s personal bank accounts and assets to which KTR assured full compliance.
KTR concluded his press briefing by saying, “If any offence is proven on my part, I am ready to accept any punishment. Truth and justice will prevail and the people will soon see through these baseless allegations.”
