TMC MP Sudip Bandyopadhyay Granted Bail in Rose Valley Chit Fund Scam
The Orissa High Court on Friday granted conditional bail to Trinamool Congress MP Sudip Bandyopadhyay, arrested for his alleged involvement in the Rose Valley Group chit fund scam.
File photo of TMC member Sudip Bandyopadhyay (PTI)
Cuttack: The Orissa High Court on Friday granted conditional bail to Trinamool Congress MP Sudip Bandyopadhyay, arrested for his alleged involvement in the Rose Valley Group chit fund scam.
The bench of Justice J P Das allowed the TMC leader to go on bail after depositing a sum of Rs 25 lakh in any nationalised bank and furnishing a bail bond of two sureties of Rs 50,000 each.
Among other conditions, the MP has been asked to submit his passport in the trial court and cooperate with the investigating officer, as and when required.
The bench had reserved the order on his bail plea after hearing arguments of both the prosecution and defence on May 8.
Bandyopadhyay had been arrested on January 3 by the CBI for his alleged involvement in the Rs 17,000 crore Rose Valley Chit fund case, which is being probed by the agency under the Supreme Court's directions.
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.
The CBI has arrested another TMC MP, Tapas Pal, for his alleged involvement in the scam. The agency had earlier accused Rose Valley chairman Gautam Kundu and three others of defrauding investors from across the country of more than Rs 17,000 crore.
Catch the Biggest Newsmakers and the Biggest Newsbreaks on CNN-News18, your favourite English TV news channel. Keep watching CNN-News18 at just 50 Paise per Month. Contact your cable /DTH operator Now!
*Rental / capacity fee of Rs.130/- as charged by cable / DTH operator may apply. **GST extra.
Recommended For You
- Government to Install Electric Vehicle Charging Stations at Every 25 Km in India
- TRAI’s New Rules For Cable And DTH: Dishtv, Sun Direct and Tata Sky Try to Reduce NCF Burden on Subscribers
- Ayushmann Khurrana Pens a Heartfelt Poem for CRPF Jawans Killed in Pulwama Terror Attack
- Physio and Six Teenagers Step in for Italian Side but Lose 20-0
- All is not Well Between Alia Bhatt and Beau Ranbir Kapoor? The Actress Answers
- 01 d
- 12 h
- 38 m
- 09 s