Kolkata: Trinamool Congress MP Srinjoy Bose, who was arrested by the Special Crime branch of the CBI in connection with the Saradha case on November 21, was released on conditional bail on Wednesday.
District and Session Judge's Court, Alipore Samaresh Prasad Chowdhury granted bail to Bose after imposing three conditions that he would not leave the country, he would not threaten witnesses and he would respond to CBI's summons, whenever served.
After hearing Bose's counsel and the prosecution, the judge asked him to submit a registered surety of Rs 50,000 and cash deposit of Rs 50,000 in the state exchequer.
Counsel appearing for Bose maintained that although he remained under arrest for 75 days, CBI was yet to frame a chargesheet against him under Section 420 of IPC, under which, along with other sections, he has been booked.
They said that the maximum detention time under Section 420 was 60 days while Bose was under custody for more than 75 days and pleaded that there was no need for further custodial detention and prayed for his bail.
The counsel for CBI said that he had nothing to say to oppose the statutory period, but maintained that he should not be given bail since this scam was a huge matter and had a significant impact on the society.
Bose's counsel moved the bail appication in the court a few days back.
CBI is likely move the High Court as early as possible, sources said.
