After CBI, ED books Mumbai ex-top cop in PMLA case

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After the CBI, the Enforcement Directorate (ED) has booked former Mumbai Police commissioner Sanjay Pandey in a case related to alleged tapping of phones of some National Stock Exchange (NSE) employees between 2009 and 2017.
The agency has booked the retired IPS officer under provisions of the Prevention of Money Laundering Act (PMLA).
The ED has also arrested former NSE CEO, Chitra Ramkrishna, in connection with the case. A Delhi court granted Ramkrishna’s custody to ED until July 18.
The ED had questioned Pandey on July 5 in connection with the 2018 case of alleged manipulation of NSE — a separate case in which some brokers were alleged to have made windfall profits by manipulating the co-location facility of the bourse in connivance with top NSE officials.
The present ED case is based on a CBI FIR registered recently against Pandey and his company, iSec Securities, among others, including Ramkrishna. According to ED’s submission in court, iSec illegally tapped phones of NSE employees on Ramkrishna’s directions.
Seeking Ramkrishna’s remand, ED told the court of Special Judge Sunena Sharma that payment of Rs 4.54 crore to iSec for alleged phone-tapping was decided and agreed upon between the officers of NSE, including Ramkrishna, and the company’s representatives.
The agency told the court: “The work orders/contracts/agreements were processed by Chitra Ramkrishna during her tenure as deputy managing director and managing director of NSE. During the entire period of offence — from 01.01.2009 till 13.02.2017 — Chitra Ramkrishna was holding the position of either deputy managing director (till 2010) or joint managing director (till 2013) or managing director (till December 2016) of NSE.”
The agency also said, “It is averred that after she relinquished the post of Managing Director of NSE in December 2016, the contract for so called “Periodic Study of Cyber Vulnerabilities of NSE’ expired on 13.02.2017and was never renewed subsequently, thus proving that the said illegal activity was co-terminus with her holding key position as Joint Managing Director/Managing Director of NSE.”
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