Pandey’s lawyers made the submissions before Special Judge Sunena Sharma, who will pronounce the order on his bail plea on Thursday.
Appearing for Pandey, advocate Tanvir Ahmed Mir told the court that Pandey was a whistleblower who flagged suspicious activities in the National Stock Exchange (NSE).
The court asked Mir whether his client was engaged as a spy. Mir replied, “Spy would not be a good word coming from the court. My job is to flag suspicious calls.”
Subscriber Only Stories
Mir told the court that NSE gave Pandey a record, and he flagged calls that indicated illegal activities. “NSE employees are betting in IPL and I am flagging those activities…. What wrong did I commit,” he asked. “Was I running (away) from India? Proceeds of crime in total amount to Rs 4.54 crore. It is not camouflaged or layered. Who is dissipating evidence? The ED arrested for ulterior reasons [motive]. I told them (NSE) about system operation breach, access control breach, IPL betting.”
Mir submitted that the NSE engaged his client’s services to ensure that “trade secrets do not go out (and) insider trading does not happen”, and for that the NSE recorded calls and gave his company transcripts.
He said that a company, Nexus, had installed the phone-tapping hardware in NSE in 2012. He submitted that recording of phone calls had taken place in other government institutions, including banks, and that does not make the recording of phone calls at NSE illegal.
The NSE, the court was...
On Friday, April 10, 2026, the U.S. Department of Justice (DOJ) announced that International Business Machines Corporation (IBM) has agreed to pay just over $17 million to resolve allegations that ...