The Orissa High Court on Friday granted conditional bail to Trinamool Congress MP Sudip Bandyopadhyay, who was arrested by the CBI for his alleged involvement in the Rose Valley Group chit fund scam.
The bench of Justice J P Das allowed the TMC leader to go on bail after depositing a sum of Rs 25 lakh in any nationalised bank and furnishing a bail bond of two sureties of Rs 50,000 each.
Among other conditions, the MP has been asked to submit his passport to the trial court and cooperate with the investigating officer, as and when required.
The bench had reserved the order on his bail plea after hearing arguments from both the prosecution and defence on May 8.
Not satisfied with the order CBI has decided to file a Special Leave Petition before the vacation bench of Supreme Court.
Bandyopadhyay had been arrested on January 3 by the CBI for his alleged involvement in the Rs 17,000 crore Rose Valley Chit fund case, which is being probed by the agency under the Supreme Court's directions.
Besides pleading that the senior politician from West Bengal was not involved in the scam, his counsel said that Bandyopadhyay was seriously ill and, therefore, needed to be granted bail.
West Bengal Chief Minister and TMC supremo Mamata Banerjee welcomed the conditional bail granted by the Orissa High Court to her senior party MP.
She also and wished him a speedy recovery from his ailments.
"He (Bandyopadhyay) has been a fighter all his life. He has lost a lot of weight. He has been suffering due to ailments. I want him to come back soon and wish him a speedy recovery," she told reporters here.