Saradha scam accused Madan Mitra gets bail
Saradha scam accused Trinamool Congress leader Madan Mitra has been granted bail by Kolkata’s Alipore court on Friday, NDTV has reported. The former state Cabinet minister was arrested by the CBI in December 2014 for his involvement in the multi-crore Saradha chit fund scam.
Mitra was finally granted bail after he submitted a bond of Rs 30 lakh, to be paid in two installments. The court also directed Mitra to surrender his passport to the CBI and appear before the CBI investigating officer once every week. He was further directed not to go out of Kolkata.
Mitra had been in jail for 21 months for his alleged role in Saradha Groups cheating investors of over Rs 1,000 crore in the Ponzi scam.
CBI lawyers appealed to the court to reject his bail as he could change the investigation process, using his influences. Madan Mitra’s counsels claimed that their client was not an influential person anymore, as he left cabinet and lost recently concluded Bengal assembly election, and plead for his bail with any condition.