Bhubaneswar (Odisha), May 19: Trinamool Congress (TMC) MP Sudip Bandopadhyay was granted bail here today by the Odisha High Court, in connection with the Rose Valley chit fund scam.
According to reports, a bench of Justice J.P. Das granted the bail on a personal bond of rupees 25 lakh, slapping few conditions on Sudip Bandyopadhyay, which includes the surrender of his passport before the CBI.
The Central Bureau of Investigation, which is probing the chit fund scam, arrested the four-time Lok Sabha member from Kolkata on January 3.
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Besides pleading that the senior politician from West Bengal was not involved in the scam, his counsel said that Bandyopadhyay was seriously ill and, therefore, needed to be granted bail.
His arrest in the alleged Rose Valley scam came close on the heels of the arrest of another Trinamool Congress MP Tapas Pal.
Earlier on May 8, the Orissa High Court had reserved its verdict on the bail plea of Bandyopadhyay.
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Bandyopadhyay had moved the High Court on February 9 seeking bail after his bail plea was rejected by the Khordha district and sessions court on February 4.
The agency had accused Rose Valley chairman Gautam Kundu and others of defrauding investors from across the country of more than Rs 17,000 crore.
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