FORMER chief engineer of Hyderabad Metropolitan Development Authority (HMDA) BLN Reddy appeared before the Enforcement Directorate (ED) on Wednesday in connection with the Formula-E race case.
The ED is investigating the transfer of ₹55 crore in foreign exchange, including taxes, to London-based Formula E Operations Ltd's account in October 2023 in violation of the provisions of the Foreign Exchange Management Act (FEMA) and Prevention of Money Laundering Act (PMLA).
According to sources, the central probe agency questioned Reddy for about nine hours on different aspects of the transfer of money, including why no clearance was taken from the Reserve Bank of India (RBI). Sources stated that Reddy told the officials that money was transferred online and that income tax was deducted and paid to the department.
The officials wanted to know who had ordered the transfer of the funds and whether there were any written orders to him from any authority in the government.
This story is from the January 09, 2025 edition of The New Indian Express Hyderabad.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 09, 2025 edition of The New Indian Express Hyderabad.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Pay gram panchayat workers' salaries on time, CM tells officials
CHIEF Minister A Revanth Reddy on Thursday instructed the officials to pay salaries to employees working in the gram panchayats on time.
State govt okays design of new Telangana Bhavan in Delhi
THE state government has approved the design of the new Telangana Bhavan to be constructed in New Delhi.
No Corrupt Intent in Conducting E-Prix: Arvind
During nine-hour questioning, former IAS officer suggests ED verify FEO records
Delay in payments: 2 GHMC contractors attempt self-immolation
PROTESTING against the delay in the release of payments for works carried out, two contractors attempted to self-immolate outside the Greater Hyderabad Municipal Corporation (GHMC) head office on Tank Bund Road on Thursday.
PRLIS Will Turn Palamuru Into a Rice Bowl: Bhatti
DEPUTY Chief Minister Mallu Bhatti Vikramarka announced that Palamuru Rangareddy Lift Irrigation Scheme (PRLIS) would be completed in the next three years, transforming the Palamuru region into a rice bowl of India.
4 Accused in Nijjar Murder Case Get Bail
A Canadian court has granted bail to four Indian nationals accused of killing Khalistani separatist leader Hardeep Singh Nijjar in June 2023.
PM: World listens to India, land of Buddha, democracy
Modi to world leaders: Democracy is ingrained in Indians, shun war
Aarogyasri enlisted private hospitals call off strike
AFTER extensive discussions between Aarogyasri Trust officials and members of the Telangana Aarogyasri Network Hospitals Association (TANHA) on Thursday evening, private and corporate hospitals decided to call off their planned strike.
Residential college physical director accused of assaulting students
ACCUSING the Physical Director of Social Residential Welfare College in Duddeda of inhumane behavior and assaulting students for being late to special classes, parents and BRS leaders staged a dharna outside the college on Thursday.
Cold weather grips state, Sirpur shivers at 5°C
THE state will continue to experience colder temperatures with the mercury levels remaining between 11-15°C in most of the districts over the next five days.
