Former Managing Director (MD) of National Stock Exchange (NSE) Chitra Ramkrishna got iSec Services Pvt Ltd, a company founded by ex-Mumbai Police Commissioner Sanjay Pandey, to allegedly snoop the phones of at least 91 NSE employees during her tenure in the organisation, the Enforcement Directorate (ED) has found.
In addition to arresting Ramkrishna, ED had on Thursday, 14 July, booked Pandey in a money laundering case related to the alleged phone tapping.
Speaking to The Indian Express, an ED official said that they are interrogating Ramkrishna to find the motive behind the illegal act.
ED has reportedly found documentary and electronic evidence to substantiate their contention that Pandey's company tapped the phones of as many as 91 NSE employees. The evidence – voice recordings and transcripts – contain information about stocks and operation of NSE.
Pandey was on 5 July questioned by the ED in a different case relating to the alleged NSE colocation scam case.
According to the ED officials, although Pandey was not associated with iSec Services, when it was incorporated in 2001, he was running the company all along.
"Almost all correspondence between iSec and top officials of NSE are through Pandey's email," a ED official said.
Pandey quit as the director of the company in 2006, after which his mother Santosh and son Armaan took over as its directors.
A 1986-batch Indian Police Service (IPS) officer, Pandey retired from service on 30 June. Before his four-month stint as Mumbai's commissioner of police, he served as acting Maharashtra director general of police (DGP).
The ED discovered secret phone surveillance while probing the alleged financial irregularities at the NSE following which it reported it to the Ministry of Home Affairs (MHA), which asked the CBI to probe the charges, officials said. The case is now being probed based on a FIR registered by the CBI.
In its complaint, the CBI had alleged that during the period 2009-17, Narain, Ramkrishna – both former chief executives of NSE – along with others, conspired to illegally intercept the telephones of NSE employees for which they hired iSEC Services Pvt Ltd.
Alleged Phone Tapping Carried Out Only During Ramkrishna's Tenure: ED
While seeking remand of Ramkrishna, ED told Special Court judge Sunena Sharma on Thursday that for carrying out the alleged phone tapping the NSE bosses including Ramkrishna and iSec representatives had fixed payment of Rs 4.54 crore for the company.
“The work orders/contracts/agreements were processed by Chitra Ramkrishna during her tenure as Deputy Managing Director and Managing Director of NSE. During the entire period of offence i.e. from 01.01.2009 till 13.02.2017, Ms Chitra Ramkrishna was holding the position of either Deputy Managing Director (till 2010) or Joint managing Director (till 2013) or Managing Director (till December, 2016) of NSE,” ED told the court.
ED also said that it had evidence to prove that the iSec provided the illegal services only during Ramkrishna's tenure in NSE.
“It is further averred that after she relinquished the post of Managing Director of NSE in December, 2016, the contract for so called ‘Periodic Study of Cyber Vulnerabilities of NSE’ expired on 13.02.2017and was never renewed subsequently, thus proving that the said illegal activity was co-terminus with her holding key position as Joint Managing Director/Managing Director of NSE,” ED said.
(With inputs from The Indian Express, PTI.)
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)