Bail To Trinamool MP Sudip Bandyopadhyay, In Rose Valley Chit Fund Case

May 19, 2017 Author: Gaurav Shingala

CUTTACK:  The Orissa High Court today granted conditional bail to Trinamool Congress Member of Parliament Sudip Bandyopadhyay, who was arrested by the Central Bureau of Investigation for his alleged involvement in the Rose Valley Group chit fund scam.

The high court has directed that the MP can go on bail only after surrendering his passport and depositing Rs 25 lakh as surety. The court had concluded hearing of Sudip's bail plea on May 8 and reserved the judgment.

Among other conditions, Sudip Bandyopadhyay has been told to submit his passport in the trial court and cooperate with the investigating officer, as and when required.

Sudip Bandyopadhyay was arrested on January 3 by the CBI for his alleged involvement in the Rs. 17,000 crore Rose Valley Chit fund scam case, which is being probed by the CBI under the Supreme Court's directions.

Besides pleading that Sudip Bandyopadhyay was not involved in the scam, his counsel said that the TMC leader was seriously ill and should be granted bail. The CBI has arrested another TMC MP, Tapas Pal, for his alleged involvement in the scam.

The CBI had accused Rose Valley chairman Gautam Kundu and three others of duping investors of over Rs. 17,000 crore.