ODISHA HIGH COURT GRANTED BAIL TO TMC MP SUDIP BANDYOPADHYAY IN ROSE VALLEY SCAM CASE :

In a huge sigh of relief for Trinamool Congress (TMC) MP Sudip Bandyopadhyay, the Orissa High Court today granted him conditional bail in connection with the Rose Valley Group chit fund scam.  The High Court granted him bail against two sureties of Rs 50,000 each and directed him to deposit Rs 25 lakh in the court registry.  Bandyopadhyay had moved the High Court on February 9 seeking bail after his bail plea was rejected by the Khordha District and Sessions Judge Court on February 4.  Completing its hearing on the bail plea, the High Court had kept its verdict reserved on May 8.  The Central Bureau of Investigation (CBI), probing the chit fund scam, had arrested the four-time Lok Sabha member from Kolkata on January 3 for his alleged complicity in the scam.  Having cast its net across West Bengal, Tripura, Assam, Odisha, Jharkhand and Maharashtra among others, the Rose Valley Group is alleged to have illegally raised around Rs 17,000 crore from the public after wooing them with false promises of paying high rates of interest.  The Odisha Sun Times Bureau : 19th. May,17

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