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Special Judge Sunena Sharma sent Narain to ED custody in connection with the case related to the alleged illegal phone-tapping of stock exchange employees. A detailed order is awaited in this case.
The ED Tuesday arrested Narain, who was the MD and CEO of the exchange between April 1994 and March 2013, before being appointed its non-executive vice-chairman in April 2013. He served as the vice-chairman till June 2017.
This is the second case relating to manipulation of the NSE co-location facility by some brokers. The first ED case is based on a CBI FIR which has alleged that during the tenure of Chitra Ramkrishna as CEO, some stock brokers illegally got preferential access to the NSE server through its co-location facility leading to huge financial gains to them.
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