The CBI has registered an FIR against former Mumbai Police Commissioner Sanjay Pandey and former MD and CEO of NSE Chitra Ramkrishna for the alleged illegal phone tapping of stock market employees by the former’s Information Technology company, officials said.
In addition to Pandey and Ramkrishna, the CBI has also named another former National Stock Exchange (NSE) CEO and MD Ravi Narain in the case.
The Central Bureau of Investigation (CBI) is conducting searches at 10 locations in Mumbai, Pune, and other cities in connection with the FIR against Pandey, officials said.
Pandey is accused of illegally tapping phones of NSE employees and giving data to the top management of NSE.
It is alleged that iSec Securities Pvt. Ltd, one firm amongst a few others that conducted a security audit of NSE had illegally tapped phones of NSE employees during 2009-17, the CBI said. The company had done audit around the time the co-location irregularities are alleged to 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 later took charge of the company. The police officer, who studied at IIT-Kanpur and Harvard University, is understood to have established the company after he resigned from service.
The 1986-batch Indian Police Service (IPS) officer retired from service on June 30. Before his four-month stint as Mumbai commissioner of police, he served as acting Maharashtra director general of police (DGP).
CNN-News18 had reported on Thursday that the CBI filed a status report opposing the plea filed by former National Stock Exchange (NSE) Group Operating Officer (GOO) Anand Subramanian seeking bail in the co-location scam case.
In its status report, the premier investigating agency told the court that Subramanian is highly influential and can sway the witnesses in this case. “…the Petitioner is highly influential and is capable of influencing the witnesses. Examination of other witnesses is being carried out to unearth the whole conspiracy related to co-location set up. In case the Petitioner is enlarged on bail he may contact the important witnesses and destroy the e-mails/ digital evidence,” the CBI said in its status report, accessed by CNN-News18.
It further stated that during Subramanian’s tenure at NSE, CEO Chitra Ramkrishna would give undue favours to him, including frequent increase in his remunerations, that too, without the approval of the HR Department.
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