Hyderabad: Chief minister A Revanth Reddy on Friday said the state govt has saved 500 crore by refusing to release the amount for the Formula E race. This decision was taken after a representative from the Formula E Organisation (FEO) met him in Dec 2023, shortly after the Congress govt assumed power.
The CM said the representative, claiming an agreement with the BRS regime, sought the new govt’s cooperation. He alleged that the plan was to siphon off 600 crore through the Formula E deal. Revanth said had he agreed to the deal, 500 crore could have been misused. “Even 55 crore is not a small amount,” he said.
Reacting to the controversy in the assembly, the CM explained that he had granted an appointment to the FEO representative. He said that hundreds of people meet him every day and he listened to the representative without any intention of hiding the matter. “I gave him an appointment and even took a photograph with him,” Revanth said, clarifying that there was nothing secretive about the meet.
Ready for debate
Responding to BRS working president KT Rama Rao’s call to discuss the Formula E issue in the assembly, the CM said he was open to discussing it either in the assembly or even at Telangana Bhavan. However, he added that both the municipal administration and home departments were under his control. “If I speak, he will approach the court claiming that I am influencing the department and agencies.” The CM assured that once the court proceedings were over, he would provide a detailed chronology of the developments.
Revanth criticised KTR’s statement that the 55 crore meant for HMDA accounts was ‘transferred’ without any issue. The CM refuted this claim, saying that the money was sent to foreign companies and not deposited in Indian bank accounts as intended. He compared the situation to a cyber criminal transferring money from a victim’s account to another, dismissing KTR’s defence. Furthermore, he revealed that 55 crore was paid to Formula E company in pounds and not Indian rupees, adding another layer of controversy. Revanth also mocked KTR’s claim that the Formula E race would enhance Hyderabad’s brand image. He joked that next, KTR might support horse races or even card games and drugs. The CM also commented on the recent party at KTR’s brother-in-law’s farmhouse, where a person was allegedly caught using cocaine.
