Cuttack: Trinamool Congress (TMC) MP Tapas Pal who was arrested for his involvement in the Rose Valley Chit Fund scam, heaved a major sigh of relief as Orissa High Court granted him conditional bail on Thursday.
The High Court granted Pal’s bail against Rs 2 lakh deposit and two personal sureties. Besides, the court also directed him to deposit Rs 1 crore in bank and submit his passport to the investigating officer.
Notably, Pal was arrested by the central probe agency from Kolkata 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 parliamentarian, while working as a director of Rose Valley Group in 2010, had allegedly appointed his wife, daughter and niece in different positions.
As per the chargesheet filed by the CBI in January 2016, Rose Valley had allegedly taken Rs 450 crore from its poor investors in Odisha.