Kochi: The Ernakulam Principal Sessions Court on Saturday granted conditional bail to Maharaja P. Mahadevan, a native of Chennai in Tamil Nadu, arrested by the local police in a case connected with illegal money lending estimated to be worth nearly Rs 500 cr.
The court granted bail by observing that the custody of the accused is not required in the case anymore.The bail was granted after submitting a bond of Rs 1 lakhs and two sureties. The court directed the accused not to leave Ernakulam District without the permission of the court and should not engage in criminal activities.
Mahadevan was asked to be present before the investigation officer every Friday. The police have slapped several cases against the Mahadevan, identified as the kingpin of racket involved in private money lending charging exorbitant interest in Ernakulam and other areas in Kerala.
