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Chitra Ramakrishna, another former managing director of the exchange, is in custody and being investigated in the case, as is former Mumbai commissioner of police Sanjay Pandey.
The ED has arrested former NSE MD and CEO, Ravi Narain in an illegal phone tapping case.
Sources in the directorate confirmed the arrest had taken place earlier today of the former managing director and chief executive officer of India's largest stock exchange, a position he held from 1994 to 2013.
The Rouse Avenue District Court of Delhi on Monday dismissed the bail petition of former National Stock Exchange (NSE) CEO Chitra Ramkrishna, arrested by the Enforcement Directorate under the Prevention of Money Laundering Act (PMLA) in connection with alleged illegal phone tapping and snooping of employees of the leading stock exchange of the country.
The investigation was ongoing in the matter and she was directly or indirectly indulging in the crime, says ED