TMC MP granted conditional bail by Orissa HC


TMC parliamentary party leader in the Lok Sabha was arrested in January this year by CBI in connection with the alleged Rose Valley chit fund scam. The high court approved the conditional bail of Sudip after two sureties of Rs 50,000 each were produced in the court.

Sudip must surrender his passport, submit Rs 25 lakh bank guarantee.

The TMC MP is now lodged in Jharpada Special Jail, Bhubaneswar, after his arrest by the CBI in connection with the multi-crore Rose Valley chit-fund scam on January 3 this year.

The Rose Valley group has allegedly duped investors in West Bengal, Odisha, Assam, Jharkhand, Punjab, Delhi, Rajasthan, MP, Tripura and Andhra Pradesh of almost Rs 17,000 crore, as per sources. Pal, an actor-turned politician, is now in the CBI custody in Bhubaneshwar.

The national probe agency in its chargesheet stated that Sudip had attended two business development meetings of Rose Valley in 2011 and 2012 while he was Union Minister of State for Health and Family Welfare.

The bench of Justice J P Das had reserved the order on his bail plea after hearing arguments of both the prosecution and defence on May 8.

Last month, Sudip Bandyopadhyay’s counsels moved to Odisha High Court, seeking his bail on medical grounds as the TMC MP is undergoing treatment at a privately-run hospital in Bhubaneswar. The investigating agency had earlier accused Rose Valley chairman Gautam Kundu and three others of defrauding investors from across the country of more than Rs 17,000 crore.

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