New Delhi, Jul 20 (IANS): The Enforcement Directorate (ED) on Tuesday arrested former Mumbai Police Commissioner Sanjay Pandey in connection with a money laundering case pertaining to the phone tapping of the employees of National Stock Exchange (NSE) between 2009 and 2017 allegedly on the instructions of NSE's former CEO and MD Chitra Ramkrishna.

Pandey will be presented at a court here on Wednesday. As per sources, the ED will seek two week's custody of Pandey.

Ramkrishna is already in ED's custody.

ED wants to confront Ramkrishna with Pandey. During the confrontation, the ED would record the statements of both Ramkrishna and Pandey.

"The payments made in the phone tapping are allegedly proceeds of crime. There are shell companies. We want to know who was handling the entire operation," said a source.

The ED's case is on the basis of the CBI's FIR.

The case was lodged by the probe agency on the directions of the Union Ministry of Home Affairs.

Earlier, the CBI had recorded Pandey's statement in this connection.

His statement was recorded at CBI's Mumbai-based headquarters. After questioning, he was allowed to leave.

The Central Bureau of Investigation (CBI) had also conducted raids in Mumbai, Pune and in several other parts of the country in this connection.

"Pandey ran iSec Securities Pvt. Ltd. It has been alleged that Ramkrishna used this firm to tap the phone of NSE's employees. The phone calls made by NSE employees between 9 a.m. and 10 a.m. were tapped and recorded by iSec Securities Pvt. Ltd. It has been alleged that Pandey helped in tapping the phone calls illegally," a source had said.