Cuttack: In a great relief for Trinamool Congress (TMC) MP Tapas Pal, who was arrested for his link with the Rose Valley Chit Fund scam, Orissa High Court granted him conditional bail on Thursday.
The Orissa HC directed Pal to deposit Rs 2 lakh in court as surety as well as two other personal sureties. Besides, the TMC MP has been directed to deposit Rs 1 crore in the bank and submit his passport to the investigating officer.
The CBI had arrested the actor-turned- politician on December 30, 2016 after marathon interrogation in Kolkata. It is alleged that Tapas Pal gained undue financial benefits from the Rose Valley Group.
The central investigating agency had submitted a charge-sheet at the Special CJM court in Bhubaneswar where it claimed that the Rose Valley Group had duped the depositors to the tune of Rs 17,000 crore. The firm, which was active in Odisha with 28 branches, had collected Rs 450 crore from the state.