A fresh FIR has been filed against Sanjay Pandey, a former commissioner of the Mumbai Police, who was questioned by the Enforcement Directorate on Tuesday in Delhi. Moreover. Moreover, in connection with the claimed money laundering scheme involving the co-location scam of the National Stock Exchange (NSE). According to officials. Hence, the agency recorded his testimony in accordance with the penal provisions of the Prevention of Money Laundering Act (PMLA).
Reports confirm that his questioning was related to the attachment of the former Mumbai Police Commissioner with iSec Securities Ltd. Which is one of a few companies that performed a security audit of NSE around the time the suspected co-location issues occurred. Sanjay Pandey incorporated the company in 2001 and quit the company in 2006.
The “Dark Fibre” Case had created havoc in the securities market. And the NSE was fined by Enforcement Directorate(ED) on the same. In order to look into the issue of NSE giving connections to certain stock brokers in a way. Which would be harmful to investors or the securities market, Sebi launched an inquiry into the activities of multiple businesses for the years 2009 to 2016.
The case had started when former MD Chitra Ramakrishna had come under the influence of a spiritual leader and had divulged important information regarding the finances of other companies and had also helped the “guru” in gaining information from outside regarding the companies. She was responsible for providing NSE’s five-year projections, business plans etc to the “spiritual person”. Ramakrishna was taken into custody along with his principal advisor Anand Subramaniam.
