A Delhi court on Wednesday sent former Managing Director (MD) and CEO of National Stock Exchange (NSE) Ravi Narain to two days' custodial interrogation by Enforcement Directorate (ED) 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 Ravi Narain's custody till September 9 after the accused was produced by the probe agency.
ED's Special Public Prosecutor N K Matta told the court that Mr 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.
Mr 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 and former heads of the NSE for allegedly tapping the phones of employees between 2009 and 2017.
This is the second case being probed by the ED about the alleged violation of money laundering norms in the co-location scam.
Mr Pandey and former NSE chief Chitra Ramkrishna were arrested in July this year in the case.
Ms Ramkrishna was earlier arrested by the CBI in March this year in the co-location case.
Mr Pandey's company, iSec Services, formed in 2001, was among the many IT firms that conducted security audits at NSE between 2010 and 2015 when the co-location scam allegedly took place.
The agencies have found that interception was done without employees' consent.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Probe Agency Searches Amazon Vendors Over Foreign Exchange Violation: Report ED Said to Have Raided Offices of Sellers Operating on Amazon and Flipkart Probe Agency Conducts Raids In Andhra Pradesh Over Rs 200 Crore Land Fraud Case Trump's Immigration Curbs To Impact Millions Of Indians, Their Children Justice DY Chandrachud's Final Message As Chief Justice Of India Elon Musk Replies To 'We Need Your Help Removing Trudeau' Post Winter Diseases: Watch Out For These Health Issues As The Days Get Colder Add These Purple Foods To Your Diet For Better Health US Election 2024: Trump Secures 301 Electoral Votes, Harris At 226 Track Latest News Live on NDTV.com and get news updates from India and around the world.