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ED arrests former NSE Chief Ravi Narain in money laundering case

Narain was the MD and CEO of NSE from April 1994 to March 31, 2013. Thereafter, he was appointed vice-chairman, in a non-executive category on the company’s board from April 1, 2013, to June 1, 2017.

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New Delhi: The Enforcement Directorate on Tuesday arrested former NSE CEO and MD Ravi Narain in a money laundering case, news agency PTI reported citing officials.

Narain was the MD and CEO of NSE from April 1994 to March 31, 2013. Thereafter, he was appointed vice-chairman, in a non-executive category on the company’s board from April 1, 2013, to June 1, 2017.

His role is being investigated by the federal probe agency as part of two criminal cases linked to the bourse – the alleged co-location ‘scam’ case and the purported illegal phone tapping of employees, the report added.

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It is learnt that Narain has been arrested in the tapping case under the criminal sections of the Prevention of Money Laundering Act (PMLA).

ED had earlier arrested former chief executive officer of the NSE Chitra Ramkrishna in the phone tapping case. In a separate investigation CBI had arrested her in a co-location case.

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