The Delhi Court has extended the remand of former National Stock Exchamge (NSE) MD and CEO Chitra Ramakrishna’s remand for 4 days. 4 days remand of Chitra Ramakrishna, former MD and CEO of National Stock Exchange, in a money laundering case involving alleged phone tapping and snooping of employees of the stock exchange.
On 14 July, the Enforcement Directorate(ED) had arrested the former NSE top boss in the money laundering case relating to the illegal phone tapping and snooping of employees of the stock exchange.
Special Judge Sunaina Sharma had allowed four-day custodial interrogation of Ramkrishna.
The former NSE MD was produced in the court from jail on an order passed by the judge earlier.
The judge had issued a production warrant against the accused on a plea moved by the ED. After the accused was produced, the ED took permission from the court to interrogate her.
Later, the ED arrested Ramkrishna on the ground of non-cooperation and again produced her before the court and urged for her nine-day custodial interrogation.
The ED had filed the case under criminal sections of the Prevention of Money Laundering Act (PMLA) against ex-Mumbai Police Commissioner Sanjay Pandey, Ramkrishna and Ravi Narain.
A week ago, the Central Bureau of Investigation (CBI) had registered a fresh case against former heads of National stock exchange of India (NSE) and ex-Mumbai police commissioner in connection with illegal phone tapping of the officials of NSE. The case had been registered against Chitra Ramkrishna, Ravi Narain and former Mumbai police commissioner Sanjay Pandey.
The case had been registered with CBI on the directions of Ministry of Home Affairs. On 8 July CBI had conducted raids at 19 locations which included Kota, Lucknow, Pune, Chandigarh, Delhi and Mumbai. The phones were allegedly tapped between 2009-2017.
The former cop Sanjay Pandey had appeared before the ED in relation to the functioning and activities of a company called iSec Securities Pvt Ltd. This firm was one of the firms tasked with conducting a security audit of NSE between 2010-2015, when the exchange systems were compromised to give benefit to few brokers.
Established in 2001, iSec Services Pvt Ltd was one the IT companies that conducted security audits at NSE from 2010 to 2015, when the co-location scam supposedly took place. The CBI has been investigating the company because it believed that the security audit firm should have been able to detect breaches in the NSE system when the scam occurred.
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