NSE phone tapping case: ED arrests ex-Mumbai police chief Sanjay Pandey

Mumbai, Jul 19: The Enforcement Directorate (ED) on Tuesday arrested former Mumbai police commissioner Sanjay Pandey in illegal phone tapping of National Stock Exchange (NSE) employees. The alleged fraud against Pandey relates to manipulation of the stock market through electronic contrivances.

The retired 1986-batch Indian Police Service (IPS) officer was taken into custody by the federal probe agency after more than seven hours of questioning in the case.

Earlier in the day, Pandey had appeared for the second consecutive day of questioning.

Pandey had also met Maharashtra Chief Minister Eknath Shinde on Tuesday, according to officials. The purpose or solution of the 15 minute long meeting between the former Mumbai Police Commissioner and the CM is still unknown.

The ED had last week arrested former NSE CEO Chitra Ramkrishna in the case.

Pandey, a 1986-batch IPS officer, retired from service on June 30. Before his four-month stint as Mumbai's commissioner of police, he served as the acting Maharashtra director general of police.

He is facing two ED and Central Bureau of Investigation FIRs - illegal interception of phones of NSE employees by iSec Services Private Ltd, a company founded by him, and violation of the Securities and Exchange Board of India guidelines in conducting NSE's system audit.