Former Mumbai police commissioner Sanjay Pandey appeared before the Enforcement Directorate in Delhi on Tuesday for questioning in a money laundering case linked to the alleged National Stock Exchange (NSE) co-location scam. The agency recorded his statement under criminal sections of the Prevention of Money Laundering Act (PMLA), officials said.
The 1986-batch Indian Police Service (IPS) officer retired from service on June 30. Before his four-month stint as Mumbai commissioner of police, he served as acting Maharashtra director general of police (DGP). Pandey’s questioning by the ED is related to the functioning and activities of a company called iSec Securities Pvt. Ltd, one firm amongst a few others that conducted a security audit of NSE around the time the co-location irregularities are alleged to have taken place.
The company was incorporated by Pandey in March 2001 and he quit as its director in May 2006. His son and mother later took charge of the company. The police officer, who studied at IIT-Kanpur and Harvard University, is understood 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.
The ED wants to understand the mandate, operations and results achieved by the company while it worked with the NSE, officials said.
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