Mumbai (06.09.2022): The Enforcement Directorate (ED) arrested former Managing Director & CEO of the National Stock Exchange (NSE) Ravi Narain in a money laundering case and alleged illegal phone-tapping of the exchange’s employees. Narain was the MD and CEO of the NSE between April 1994 and March 2013, before being appointed its non-executive Vice-Chairman in April 2013 which he continued till June 2017.
The ED had in July arrested Chitra Ramkrishna who had taken over as the MD of the exchange from Narain and former Mumbai Commissioner of Police Sanjay Pandey in the same case. Ramkrishna was the MD and CEO of NSE from April 2013 to December 2016. The agency claimed that iSec Securities Pvt Ltd, an IT audit firm linked to Pandey, had illegally tapped the phones of NSE employees between 2009 and 2017 upon Ramakrishna’s instructions. Narain too allegedly had a role in allowing illegal phone tapping. The present ED case is based on an FIR registered recently by the Central Bureau of Investigation against Pandey, iSec Securities and Ramkrishna, among others.