It is known to our readers that Former Minister K Taraka Ramarao is named as Accused in the Formula-E Racing Funds Misappropriation.
KTR filed a Quash Petition in the High Court on this issue already.
According to the Supreme Court's directive, if the sections of a case has chances of less than seven years of jail, the accused has to be served a CrPC Notice first. But then, Section 409 has been added in this case to override that directive.
Section 409 has ten years of jail and even life imprisonment. So, ACB can investigate without giving a Notice and can even arrest the Former Minister.
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If the High Court disposes the Quash, KTR may be arrested or summoned to the ACB office in the first week of the new year.
Along with the ACB, the Enforcement Directorate (ED) has also filed a money laundering case against the Former Minister in a case linked to alleged payment irregularities during the Formula-E race held in Hyderabad in February 2023.
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In this case, the established procedures require administrative sanction from the state government, in concurrence with the Finance Department, for expenditures exceeding Rs 10 crore. But no such sanctions were taken. There is no approval by the state cabinet and the Finance Department had no idea.
Also, the amounts were transferred to Formula E Operations Limited (FEO), a company registered under UK laws.
That means this is a clear case of FERA and FEMA violations.
So there is certainly a ground for the ED case against KTR. It is a different topic if the rules were ignored to facilitate corruption.