The Enforcement Directorate has arrested Former NSE Chairman Ravi Narain in the co-location case in Delhi on Tuesday, people in the know of the matter told CNBC-TV18.
Last week, a Delhi Court dismissed the bail application of former managing director and chief executive officer of the National Stock Exchange (NSE) Chitra Ramkrishna in a money laundering case related to the alleged illegal phone tapping and snooping of NSE employees. Special Judge Sunena Sharma denied the relief, saying the stage was not set to allow the bail.
During the hearing, the ED had opposed the bail plea, saying the investigation was ongoing in the matter and she was directly or indirectly indulging in the crime.
The ED's Special Public Prosecutor N K Matta had told the court that from 2009 to 2017, former Narain, Ramkrishna, Executive Vice President Ravi Varanasi and Head (Premises) Mahesh Haldipur and others conspired to cheat NSE and its employees and for the said purpose iSEC Services Pvt Ltd was engaged for illegal interception of phone calls of employees of NSE in the guise of Periodic Study of Cyber vulnerabilities of NSE.
In July, the Central Bureau of Investigation
(CBI) had a filed a fresh FIR against Ramkrishna along with Narain, Sanjay Pandey and others in the co-location scam on instructions from the ministry of home affairs.
Narain, the former NSE head, and Pandey, who headed the Mumbai police in the past, and Ramkrishna have been accused of illegally tapping the phone calls of NSE employees between 2009 and 2017 via Pandey's firm iSEC securities.
