Gulte Movie News And Politics
The screws have started to tighten around KTR in connection with the Formula E case. After the ACB filed an FIR against KTR, naming him as the primary accused in a alleged financial fraud, the Enforcement Directorate has initiated the action now.
Enforcement Directorate (ED) has registered an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act (PMLA) against KTR; along with senior IAS officer Arvind Kumar and former HMDA Chief Engineer B.L.N. Reddy.
The allegation here is that KTR verbally consented, an unauthorised transaction amounting to ₹55 crore without prior approval from the state cabinet or the finance department. Allegedly, this transaction was initiated by the HMDA under the order of KTR and the funds were transferred to a foreign company.
The ACB had already filed for non-bailable sections against KTR, and now the enforcement directorate has enforced money laundering case against him. It appears to be that the BRS working president is caught in a huge legal turmoil now.
However, KTR is free from any immediate legal recourse as the Telangana High Court instructed the investigation authorities not to arrest KTR till December 30. But in the meanwhile, the agencies are permitted to carry on with the investigation.
Tags KTR Formula E Case
