The CBI has arrested former Mumbai Police Commissioner Sanjay Pandey in relation to the National Stock Exchange (NSE) phone tapping case. He was earlier arrested by the Enforcement Directorate (ED) and was presently in judicial custody.

The CBI has secured from a Mumbai court four-day custody of Pandey in connection with the alleged illegal phone tapping of NSE employees by his information technology firm. The CBI approached a special CBI court seeking his custodyin connection with the tapping case.

The CBI will subject Pandey to custodial interrogation during his four-day custody. In addition to Pandey and former Managing Director and Chief Executive Officer of National Stock Exchange (NSE) Chitra Ramkrishna, the CBI has also named another former NSE CEO and MD Ravi Narain in the case.

It is alleged iSec Securities Pvt. Ltd, one of the firms that conducted a security audit of NSE, had illegally tapped phones of NSE employees during 2009-17, the CBI has alleged in its FIR. The company was incorporated by Pandey in March 2001 and he quit as its director in May 2006. His son and mother took over charge of the company after Pandey’s exit. On July 19, the ED Pandey in connection with a money laundering case linked to the alleged illegal phone tapping of NSE employees. The retired 1986-batch Indian Police Service (IPS) officer was arrested after two consecutive days of questioning in connection with the money laundering case.

Pandey is facing two connected FIRs by the ED and Central Bureau of Investigation (CBI) of illegal interception of phones of NSE employees by iSec Services Private Ltd, a company founded by him, and violation of Securities and Exchange Board of India guidelines in conducting NSE's system audit.

In its FIR, the CBI had alleged that Ravi Narain and Ramkrishna, both former chief executives of the NSE, had roped in company founded Pandey to snoop on the stock market employees by illegallyintercepting their phone calls.