BHUBANESWAR: The Odisha high court on Thursday granted conditional bail to TMC MP Tapas Pal who was arrested by the CBI for his alleged involvement in the Rose Valley Group chit fund scam.
The bail was granted on the condition of two sureties of Rs 2 lakh each and a bank deposit of Rs 1 crore.
The high court also asked him to submit his passport in police station and cooperate with investigating officers in the investigation process. The Bengali cine star was arrested by the agency in Kolkata on December 30, 2016 after being questioned.
Mr Paul allegedly promoted the group for which he was paid both in cash and kind. According to CBI, the failed to give satisfactory explanations about his financial transactions with the group following which he was arrested.
Rose Valley Group is alleged to have illegally raised several thousand crore of rupees from the public in Odisha, apart from duping investors in other states like West Bengal, Tripura, Assam, Jharkhand and Maharashtra.
