The bail plea of former Mumbai police chief Sanjay Pandey was rejected by a Delhi court on Thursday . The police Chief was arrested in a money laundering case which was registered by the Enforcement at Directorate (ED) alleging his involvement in illegal tapping of phones of employees at the National Stock Exchange (NSE).
The bail plea was dismissed by the Special judge Sunena Sharma . A detailed order is likely to follow soon.
The Chief Sanjay Pandey was represented by Advocate Tanveer Ahmed Mir who had contended that Pandey was in fact a whistleblower at the NSE . He further said that police chief was carrying out services to bring to fore “IPL betting, system operation breach, excess control breach” etc.
The Advocate also submitted that the offences under the Information Technology Act and the Indian Telegraph Act were not made out in this case.He had also said that amount of ₹4.74 crore cited by ED as proceeds of crime was not a result of multi-layered transactions or routing through different sources.
It was also brought to the notice of Court that call recording was a regular practice among public companies, including banks, citing Securities and Exchange Board of India (SEBI) circular to this effect and this was not an offence in the present case.
The Enforcement Directorate was represented by Additional Solicitor General (ASG) SV Raju and Special Public Prosecutor N K Matta, who opposed the bail on pretext of Pandey being an influential person.
The ASG said that the case is that of a criminal breach of trust and criminal conspiracy.ASG further argued on call recording being permitted by the NSE, He said that there was an element of consent whenever a company decides to record calls.
“Recording happening by companies where it is said ‘call is being recorded for training and quality purposes’,” he illustrated.
Pandey is facing ED and CBI FIRs alleging illegal tapping of phones of NSE employees by iSec Services Private Ltd, a company he founded, and violation of SEBI guidelines in conducting NSE’s system audit.
The Court on Tuesday had remanded him to judicial custody till August 16.
It is alleged that illegal tapping of MTNL phones was contrary to the Telegraph Act. It was contened that for this purpose, ₹4.54 crore was paid which becomes proceeds of crime.