The Joint Parliamentary Committee (JPC) probing into the stock markets scam has asked the Bombay Stock Exchange (BSE) to produce evidence against the on-leave finance director A A Tirodkar.
The BSE is expected to present its case against Tirodkar on Tuesday at a hearing in this regard.
Tirodkar is charged by the exchange for taping conversations between exchange officials.
The last personal witness hearing was held on October 9, 2001, wherein BSE authorities had pointed out certain contradictory statements made by Tirodkar to the exchange, the Securities and Exchange Board of India (Sebi) and the JPC at different times.
The BSE is also likely to produce proof against Tirodkar to Justice B L Chavan, former Chief Justice, Bombay High Court, who is conducting an independent inquiry on the Tirodkar case, according to a BSE source.
The Bombay bourse has charged Tirodkar of illegally duplicating taped communication between the then president Anand Rathi and surveillance officer Arun Dhanawade, removing the same from exchange premises without knowledge and express permission of executive director with dishonest intentions.
JPC is also probing into the different statements given by Tirodkar. However, Tirodkar has denied leaking the recorded conversations to any outsiders. He had given a statement to JPC saying that he had not leaked the information of tapes. "The BSE has charged me with taping conversations and some trivial things such as going on leave without prior intimation. Nowhere there is a charge of leaking out the information," Tirodkar said.
According to market sources, a copy of the tapes was leaked out to a former BSE president who recently passed away, who in turn leaked it to the media fearing that the matter might be hushed up. The BSE is expected to recommend to the JPC and the Sebi for filing charges of criminal conspiracy against Tirodkar in the Bombay High Court.
BSE authorities had asked Tirodkar to go on leave in April till an inquiry was conducted into the charges against him. He has also been barred from entering the exchange premises till the inquiry is over. However, a section of market players believe that Tirodkar is being made a scapegoat in the tussle between the two former BSE presidents.
