The Enforcement Directorate (ED) in Delhi has arrested former boss of National Stock Exchange (NSE) Ravi Narain in a phone tapping case, revealed during investigations into the co-location scam. This is the second big arrest in the case after former Mumbai police commissioner Sanjay Pandey was arrested last month. Narain is also being investigated for his role in the mega-crore co-location scam.

ED and CBI are probing how NSE bosses Narain and Chitra Ramkrishna had instructed Pandey’s company Isec to tap the phone of senior NSE employees between 2007 and 2017.