An inquiry into the NSE scam should also be held against Sucheta Dalal

Unmesh Gujarathi
Sprouts Brand Story

The recent arrest of former Mumbai Police Commissioner Sanjay Pandey by ED in an NSE scam is said to be at the behest of Maharashtra Deputy Chief Minister and BJP leader Devendra Fadnavis.

The phone conversations of many MVA leaders were tapped illegally by the then Director of State Intelligence Dr. Rashmi Shukla. MVA leaders had accused Fadnavis, who was the then Assembly Opposition leader, as responsible for this phone tapping.

Subsequently, in a media meet, Fadnavis had produced the pen drive containing the conversations tapped. Obviously, the then Mumbai Police Commissioner Sanjay Pandey registered an offense against Rashmi Shukla in the episode.

Pandey was also about to book Fadnavis in this clandestine phone tapping case. That is the reason Fadnavis managed to topple the MVA Government and soon after that also managed to catch Pandey in the ED dragnet, the Special Investigation Team of Sprouts has reliably learned.

Pandey had also begun booking many corrupt BJP leaders. With most of the BJP leaders nursing a grudge against him, it was expected that he would be implicated by the Central agencies like CBI, and ED controlled by the BJP in power at the center.

Pandey is linked to the server scam of the National Stock Exchange. He is accused of not providing the information related to this scam to the government. In fact, Pandey had already made his position clear. However, it did not suffice. If Pandey was to join the BJP after his retirement, then he would not have been implicated.

Basically, the NSE scam is worth Rs 50,000 crore that took place between 2010 and 2015 when both the Congress and BJP were in power at the center. Such a scam cannot take place without the connivance of the Union Finance Minister and senior SEBI officers.

The main accused in the NSE scam, former NSE CEO and MD Chitra Ramkrishna and Anand Subramaniam are mere pawns. The mastermind is somebody else, who is expected to remain scot-free till the end.

The lives of Chitra Ramkrishna and Anand Subramaniam are in danger. The BSE Stock scamster Harshad Mehta died in Thane Jail. His death was suspicious, as investigated by the Sprouts. Now similar fate awaits those arrested in the NSE scam.

The multi-crore stock market scam of 1992 was exposed by the late Nandu Kulkarni (Indian Express) and was followed to the hilt by Sucheta Dalal (Times of India), The investigation by Dalal has been appreciated the world over. However, the likes of Rakesh Jhunjhunwala, involved in the stock market scam, are still free. No other side was exposed in the scam. Not a single word was uttered against the one who published this paid news. Is this not “contract journalism”?

Sucheta Dalal was recently questioned by CBI in the NSE scam. But how impartially this inquiry will proceed is doubtful. However, if an honest and in-depth inquiry is conducted, then how many matters Sucheta Dalal functioned as an agent and how much money she collected will be exposed and many big fish will be caught in the net.