The Enforcement Directorate on Tuesday arrested former NSE CEO and MD Ravi Narain in a money laundering case, officials said.

His role is being investigated by the federal probe agency as part of two criminal cases linked to the bourse the alleged co-location 'scam' case and the purported illegal phone tapping of employees.

Narain is understood to have been arrested in the tapping case under the criminal sections of the Prevention of Money Laundering Act (PMLA). The ED earlier had arrested another former National Stock Exchange (NSE) MD and CEO Chitra Ramkrishna in the alleged phone tapping case while the CBI, which is parallely probing these cases, had arrested her in the co-location case.The Enforcement Directorate has also arrested former Mumbai Police Commissioner Sanjay Pandey in the alleged illegal phone tapping case.