ED books ex NSE MD and CEO Ravi Narain in money-laundering case

New Delhi: The Enforcement Directorate detained former NSE CEO and MD Ravi Narain on Tuesday in a case involving money laundering, sources say.

The federal inquiry agency is looking into his involvement in two criminal cases connected to the bourse: the suspected co-location “scam” case and the alleged illegal phone tapping of staff.

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It is believed that Narain was detained in the tapping case in accordance with the criminal provisions of the Prevention of Money Laundering Act (PMLA).

An additional former National Stock Exchange (NSE) MD and CEO, Chitra Ramkrishna, was previously detained by the ED in connection with an alleged phone tapping case, while the CBI, which is concurrently looking into these cases, detained her in connection with a co-location case.

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In connection with the suspected unlawful phone tapping case, the Enforcement Directorate has also detained former Mumbai Police Commissioner Sanjay Pandey.

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