**Formula E-Car Race Case: BLN Reddy Seeks More Time from ED, Skips Hearing**
Hyderabad: The Formula E-car race case witnessed a significant turn as BLN Reddy, former Chief Engineer of HMDA and the third accused (A3) in the case, did not appear before the Enforcement Directorate (ED) on Thursday. Reddy, citing the need for additional time, communicated his request via email, which the ED officials accepted.
Rs 55 Crore Transferred to Foreign Firms
The case, which has drawn considerable attention in Telangana, names IT Minister KTR as the primary accused (A1), IAS officer Arvind Kumar as the second accused (A2), and BLN Reddy as A3. IAS officer Arvind Kumar is slated to appear before the ED on January 3, followed by KTR on January 7. According to ED officials, the case involves alleged violations of the Foreign Exchange Management Act (FEMA), prompting the registration of an Enforcement Case Information Report (ECIR).
Investigations revealed that Rs 55 crore was transferred to foreign companies during the BRS government’s tenure without requisite permissions from the Reserve Bank of India (RBI). The Anti-Corruption Bureau (ACB) submitted crucial documents to the ED, indicating that the funds were processed through the Municipal Administration and Urban Development Department, headed by Special Chief Secretary Arvind Kumar. At the time, KTR held the portfolio of Municipal Administration Minister.
The ED continues its probe into the alleged financial irregularities surrounding the event.