Saradha scam accused TMC leader Madan Mitra granted bail against surety bond of Rs 30 Lakh

By: |
New Delhi | Updated: September 9, 2016 6:19:20 PM

The tenth Additional District Judge, Alipore, Uttam Kumar Nandy reserved his judgement after hearing the lawyers.

Sharadha co accused Madan Mitra granted bail (PTI)Sharadha co accused Madan Mitra granted bail (PTI)

It seems hay days are back for the former transport minister of West Bengal Madan Mitra as his bail plea was accepted by the Alipore court on Friday in exchange for a bail bond of Rs 30 lakhs. The tenth Additional District Judge, Alipore, Uttam Kumar Nandy reserved his judgement after hearing the lawyers.

Mitra’s counsel appealed for his bail, claiming that the former minister was no more influential after losing this year’s Assembly polls to which the cousel for the CBI had pleaded that Madan Mitra still had access to the witnesses and might hamper the investigation if granted bail.

The scam came to light in the year 2013 and Madan Mitra was arrested on December 12, 2014. Mitra was regarded as one of Mamata Banerjee’s most trusted and confidential aide.

The CBI had also taken other important Trinamool honchos like Mukul Roy under the fold of its investigation.

The magnitude of monetary loss caused to the citizens of rural Bengal due to the scam amounts to Rs 1200 crore.

The Saradha Chit fund scam is one of West Bengal’s biggest monetary scams and remains as a blot to the Mamata Banerjee led Trinamool Congress government which came to power accusing the corruption and bankruptcy of the state committed by the earstwhile Left Front government led by the Communist Party of India-Marxist (CPIM).

Follow financialexpress.com for all news and analysis on the Lok Sabha Elections 2019. Check Lok Sabha election 2019 schedule, Lok Sabha Constituency Details and updates on campaigning by Narendra Modi and Rahul Gandhi. Like us on Facebook, follow us on Twitter.

Switch to Hindi Edition