ED files chargesheet in NSE money laundering case, Ravi Narain sent to JC

New Delhi [India], September 9 : The Enforcement Directorate on Friday filed a chargesheet in Delhi Rouse Avenue Court in connection with National Stock Exchange (NSE) Money Laundering Case.
The Chargesheet on Friday has been filed in the court of Special Judge Sunena Sharma. The court fixed September 21, 2022, for the arguments on the point of cognizance. Advocate Naveen Kumar Matta represented ED in the case.
The chargesheet stated to have names of Chitra Ramkrishna, Ravi Narain (Both are former CEOs of NSE) and Sanjay Pandey, former Mumbai Police commissioner and a private firm.
The court noted that a fresh complaint (Chargesheet) case filed by ED against 4
accused namely M/s iSec Services Pvt. Ltd., accused Sanjay Pandey, accused Chitra Ramkrishna and accused Ravi Narain under Section 44 & 45 of PMLA for
-01 commission of the offence of Money Laundering punishable under Section 4 of PMLA alongwith documents.
Meanwhile, the same court also decided to send Ravi Narain, former CEO of NSE to Judicial Custody in the case. He was arrested recently and was sent to two days remand on the last date of hearing.
Ravi Narain was arrested by Enforcement Directorate (ED) in August 2022 in connection with a money laundering case related to the alleged illegal phone-tapping of the exchange's employees. Ravi Narain is the third person arrested by ED in the case.
Earlier, the ED had arrested Chitra Ramkrishna (also a former CEO of NSE) and former Mumbai Police Commissioner Sanjay Pandey on the case. Both are presently in Judicial Custody.
The Central Bureau of Investigation (CBI) recently registered a fresh FIR in the NSE Co-Location Case over the allegations of phone tapping.
Following the orders of the Ministry of Home Affairs (MHA), the Central Bureau of Investigation (CBI) registered a case in the alleged National Stock Exchange (NSE) co-location scam that involved the phone tapping of NSE employees.
The ED's FIR mentioned the names of former NSE Chief Chitra Ramakrishna, Ravi Narain and former Mumbai Commissioner Sanjay Pandey for allegedly tapping the phones of NSE officials and other irregularities.
Pandey is the 1986-batch Indian Police Service (IPS) officer who retired on June 30. During the investigation, it was found that Pandey is closely related to the functioning and activities of a company called iSec Securities Pvt. Ltd.
The company had conducted a security audit of NSE around the time the alleged co-location irregularities have taken place.
The company was incorporated by Pandey in March 2001 and he quit as its director in May 2006. His son and mother took over the charge of the company. It has been alleged that illegal phone tapping of NSE employees was done between 2009-17.