NSE illegal phone tapping case: ED arrests ex-NSE boss Ravi Narain
The Enforcement Directorate on Tuesday evening arrested former National Stock Exchange (NSE) Managing Director Ravi Narain in connection with the ongoing phone tapping probe in the NSE Scam. Before Chitra Ramkrishna, Ravi Narain was the NSE head till 2012. Both are close to former Finance Minister P Chidambaram and were involved in the co-location scam for rigging the share prices in advance to a select group of share brokers and in the illegal phone tapping of stock exchange staff and certain share broking firms.
Former Mumbai Police Commissioner Sanjay Pandey has already been arrested by the agencies in the phone tapping scam. A private company- iSEC Services Private Limited – incorporated by Sanjay Pandey was engaged by the NSE when Ravi Narain was Managing Director. Pandey’s firm had received Rs.4.45 crore from NSE to illegally tap the phones of staffers and certain share brokers. Ravi Narain’s successor Chitra Ramkrishna was involved in this illegal activity.[1]
Chitra Ramkrishna is already in prison and has not yet received bail in the co-location scam and illegal phone tapping cases. Investigators are probing the role of Ajay Shah and senior Finance Ministry officials during Minister P Chidambaram’s period. CBI has already filed a charge sheet in the co-location scam and the main two accused are Chitra Ramkrishna and her close aide Anand Subramanian. Both are still in prison and facing ED’s probe also.[2]
For the past six years, PGurus published a series of reports on the Co-Location scam. PGurus’ Managing Editor Sree Iyer has explained the details of this mega stock exchange rigging scam in a video.
Reference:
[1] NSE illegal phone tapping: ED registers case against former Mumbai CP Sanjay Pandey, Chitra Ramkrishna & Ravi Narain – Jul 14, 2022, PGurus.com
[2] NSE Co-location scam: CBI files charge sheet only against Chitra Ramkrishna and Anand Subramanian. Is the probe limited to Chitra & Anand? – Apr 22, 2022, PGurus.com
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Unlikely to tell the truth …… He will plead freedom of speech & action and freedom not to tell truth !!
Need a freedom law that bans issue of passports & giving any govt subsidies & govt jobs to all those anti-nationals, who hide the truth, decline to reveal the truth – deny them for 2 generations as minimum