The Telangana High Court on January 7 rejected KT Rama Rao’s plea to quash an FIR related to alleged financial irregularities in the funding of the Formula E race held in Hyderabad in February 2023. The MLA is charged under IPC Section 409 and the Prevention of Corruption Act.

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• Telangana HC rejected KT Rama Rao’s plea to quash the FIR in the Formula E race funding case.
• Court also denied his request for a 10-day arrest stay to file an appeal.
• FIR filed under IPC Section 409 (criminal breach of trust) and Prevention of Corruption Act.
• Complaint filed by the Congress-led government on December 18, 2023.
• Allegations involve unauthorized payments of ₹55 crore, some in foreign currency, without approvals.
• Rao’s counsel argued it’s political vendetta; decision aimed to save state revenue.
• Advocate General said preliminary inquiry revealed grave allegations.
• Accusations include transferring money to foreign entities before contracts were finalized.
• Telangana CM Revanth Reddy claimed ₹500 crore was saved by halting further fund transfers.
• Formula E race canceled in 2024 after Congress came to power in December 2023.