Former NSE CEO Ravi Narayan Arrested By ED

Former NSE CEO Ravi Narayan was arrested by ED in money laundering and phone tapping cases.

The Enforcement Directorate (ED) on Tuesday arrested former Chief Executive Officer (CEO) of National Stock Exchange (NSE) Ravi Narayan in a money laundering case related to alleged illegal phone tapping and espionage of NSE employees.

The Anti-Money Laundering Agency had registered a case against him, along with ex-NSE chief Chitra Ramakrishna and former Mumbai Police Commissioner Sanjay Pandey, on July 14 under criminal sections of the Prevention of Money Laundering Act (PMLA).

Earlier, the Central Bureau of Investigation (CBI) had registered a case against the trio for allegedly tapping the phones of NSE employees between 2009 and 2017.

Narayan’s arrest comes a week after ED’s Special Public Prosecutor N K Matta told a Delhi court about Ravi Narayan.

ED’s special public prosecutor N K Matta had told the court that from 2009 to 2017, former chief executive officers of NSE Ravi Narayan, Ramakrishna, executive vice president Ravi Varanasi and head (premises) Mahesh Haldipur, and others cheated NSE and its employees.

For this, the help of ISEC Services Pvt Ltd was taken to illegally intercept the phone calls of NSE employees under the guise of periodic study of NSE’s cyber vulnerabilities.

Narayan was the MD and CEO of NSE from April 1994 to March 31, 2013.

Thereafter, he was appointed as the Vice-Chairman in the Non-Executive category on the Board of the Company from April 1, 2013, to June 1, 2017.

Chitra Ramakrishna, former chief executive officer of NSE, was arrested by the CBI on March 6 in a case registered in May 2018 related to the co-location scam.

The ED arrested her on July 14 in the phone tapping case.

Let us tell you that recently a Delhi court rejected the bail plea of ​​Chitra Ramakrishna, former Managing Director and Chief Executive Officer of the National Stock Exchange (NSE) in a money laundering case.