NSE phone tapping case: CBI takes into custody former Mumbai Police chief Sanjay Pandey

Sanjay Pandey was allegedly accused in illegal phone-tapping of the National Stock Exchange employees during 2009-1

September 24, 2022 07:45 pm | Updated September 25, 2022 12:35 am IST - New Delhi

Former Mumbai police commissioner Sanjay Pandey. File

Former Mumbai police commissioner Sanjay Pandey. File | Photo Credit: PTI

The Central Bureau of Investigation took former Mumbai Police chief Sanjay Pandey into four-day custody in a case alleging illegal phone-tapping of the National Stock Exchange (NSE) employees during 2009-17.

Earlier this month, the Enforcement Directorate arrested former NSE managing director Ravi Narain with respect to the same case. In July, it arrested Mr. Pandey and also took another former NSE managing director,Chitra Ramkrishna, into custody for recording her statement.

The ED probe was based on the First Information Report (FIR) registered by the CBI. Apart from Mr. Pandey, Ms. Ramkrishna and Mr. Narain, the NSE’s then executive vice-president Ravi Varanasi and head (premises) Mahesh Haldipur; Delhi-based iSec Services Private Limited and its functionaries have been named as accused.

As alleged, iSec Services was incorporated by Mr. Pandey in March 2001. He later resigned from the company.

“It was alleged that during 2009-17, the then MD [Mr. Narain], then DMD [Ms. Ramkrishna], then executive vice-president and then head (premises) of the NSE and the private company conspired to illegally intercept the telephones of NSE employees,” said the CBI. iSec Services was purportedly engaged on the pretext of conducting a “periodic study of cyber vulnerabilities” at the NSE.

iSec Services is being probed in another case related to the irregularities in the security audit of some stock brokers that used algorithmic trading systems.

“It was alleged that during 2009-17, the then MD [Mr. Narain], then DMD [Ms. Ramkrishna], then executive vice-president and then head (premises) of the NSE and the private company conspired to illegally intercept the telephones of NSE employees”Central Bureau of Investigation

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