Rose Valley scam: TMC MP Sudip Bandyopadhyay granted bail

The CBI arrested TMC MP Sudip Bandyopadhyay in Kolkata on January 3 while probing the Rose Valley Group chit fund scam on the Supreme Court's directions.

Cuttack, May 19: The Orissa High Court on Friday granted conditional bail to Trinamool Congress Member of Parliament Sudip Bandyopadhyay, arrested for his alleged involvement in the Rose Valley Group chit fund scam.

A bench of Justice JP Das had reserved the order on his bail plea after hearing arguments of both the prosecution and defence on May 8.

Sudip Bandyopadhyay had approached the Orissa High Court in February seeking regular bail on health grounds after his bail applications were rejected by the designated Central Bureau of Investigation court in Bhubaneswar and the Khurda district sessions court.

The CBI had arrested the Lok Sabha Trinamool Congress leader in Kolkata on January 3 while probing the Rose Valley Group chit fund scam on the Supreme Court's directions.

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.

PTI