Ex-NSE MD Ravi Narain sent to 2-day ED custody in money laundering case
A Delhi court on Wednesday sent former MD and CEO of National Stock Exchange Ravi Narain to two days' custodial interrogation by Enforcement Directorate in a money laundering case related to alleged illegal phone tapping and snooping on stock exchange employees.
Special Judge Sunena Sharma allowed ED's plea seeking Narain's custody till September 9 after the accused was produced before him by the probe agency.
ED's Special Public Prosecutor N K Matta told the court that Narain was required to be confronted with other accused persons and evidence in the matter to unearth the larger conspiracy in the matter.
The ED on Tuesday arrested him in the case.
Narain was the MD and CEO of NSE from April 1994 to March 31, 2013. Thereafter, he was appointed as the vice-chairman in a non-executive category on the company's board from April 1, 2013, to June 1, 2017.
The ED had registered an Enforcement Case Information Report (ECIR) in July against former Mumbai Police commissioner Sanjay Pandey