Former Mumbai Police Commissioner Sanjay Pandey appeared before the Enforcement Directorate (ED) here on Tuesday for questioning in a money laundering case linked to the alleged National Stock Exchange (NSE) co-location scam.
The ED recorded Pandey’s statement under the Prevention of Money Laundering Act (PMLA) after he reached the agency’s office in an auto-rickshaw, officials said. The 1986-batch Indian Police Service (IPS) officer retired from service on June 30. Before his four-month stint as Mumbai Police Commissioner, he served as acting Director General of Police (DGP) of Maharashtra. The agency questioned him in connection with the functioning and activities of iSec Securities Pvt. Ltd, one of the firms that conducted a security audit of NSE around the time the co-location irregularities allegedly took place, officials said.
The company was incorporated by Pandey in March 2001 and he quit as its director in May 2006. Later, his son and mother took charge of the company.
Pandey, an IIT-Kanpur and Harvard University alumnus, is said to have established the company after he resigned from service. His resignation was not accepted by the State government and he rejoined but was not immediately given a posting. Through his questioning, the ED is seeking to unravel the mandate, operations and results achieved by the company while it worked with the NSE, they said.
The agency has already recorded former NSE Managing Director and Chief Executive Officer Chitra Ramkrishna's statement in connection with the case.
Presently, Ramkrishna is lodged in Tihar jail. She and former group operating officer Anand Subramanian were arrested by the Central Bureau of Investigation (CBI) in March in the NSE co-location scam case. The ED took cognisance of this CBI FIR to initiate money laundering charges against them.