Accused in Madhu Koda scam gets interim bail

Jharkhand high court today granted interim bail to Mumbai-based businessman Arvind Vyas, arrested a year ago in connection with Madhu Koda scam, till September 12.

Jharkhand high court on Saturday granted interim bail to Mumbai-based businessman Arvind Vyas, arrested a year ago in connection with Madhu Koda scam, till September 12.

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Sanctioning the interim bail plea the single bench of R R Prasad asked Vyas not to leave the country and be under the vigil of investigating agencies.

He was asked to pay two bonds of Rs 50,000 each.

The order came after Vyas' advocate moved a petition pleading the bench to allow him to be with his ailing mother.

Vyas was arrested in August last year and sent to judicial custody after the Enforcement Directorate and Income Tax departments had raided the 70 premises, including those of Koda, on October 31 and allegedly unearthed the Rs 2,500 crore scam pertaining to alleged illegal investments and hawala transactions.

Koda is under judicial custody from November 30, 2009.