Kolkata: The Orissa high court on Friday granted bail to Trinamool Congress MP Sudip Bandyopadhyay, who was arrested by the Central Bureau of Investigation (CBI) in early January for allegedly helping the now defunct Rose Valley Group ply its illegitimate deposit collection business.
The federal agency has already filed a chargesheet against Bandyopadhyay, framing charges against him and Tapas Pal, another Trinamool Congress MP, under various sections of the Prevention of Corruption Act and the Indian Penal Code.
Pal, who was arrested days before Bandyopadhyay, continues to be in detention.
Both leaders are facing charges of abusing their offices to help the Rose Valley Group raise an estimated Rs17,000 crore from unsuspecting depositors. The two MPs have also been charged with cheating and criminal conspiracy after the Rose Valley Group failed to repay most of its depositors.
While granting bail on medical grounds, the court in Cuttack ordered Bandyopadhyay to surrender his paasport and to co-operate with the CBI for the ongoing trial and further investigation. He has been allowed to travel to Kolkata, where he lives.