NEW DELHI: A Delhi court on Thursday dismissed the bail application of former Mumbai Police Commissioner Sanjay Pandey in a money laundering case related to alleged illegal phone tapping and snooping of national stock exchange (NSE) employees.
Special Judge Sunena Sharma said the material available prima face showed Pandey was actively involved in the execution of recording and monitoring of calls at the NSE, and was directly communicating with the bourse staff as well as those of the iSec, the company he founded and which was responsible for the cyber security audit of the NSE.
The judge noted the material collected by the investigating officer ‘prima face’ showed the retired IPS officer was in de facto control of the affairs of iSec even after 2006, when he resigned as a director, and kept attending the meetings.
“The material shows that the applicant was fully aware of the real purposes for which the services of iSec were hired under the guise of ‘Periodic Study of Cyber Vulnerabilities’ and therefore, the money derived seems to be the proceeds of crime within the meaning of Section 2(u) of PMLA,” the judge said.