Odisha HC grants bail to BJD MLA in chit fund case

The Odisha High Court (HC) today granted conditional bail to senior BJD leader and Banki legislator Pravat Tripathy, who was arrested by the Central Bureau of Investigation (CBI) on October 31 last year, for alleged involvement in the mega chit fund scam. Tripathy was languishing in the jail since.

While granting bail, HC has asked Tripathy to deposit Rs 10 lakh at a nationalised bank as surety and submit his passport with CBI, said the counsel of the MLA. The court has also directed Tripathy to co-operate with the investigation process and not to tamper with the evidence.

Tripathy, who was accused of receiving money from the chit fund firm Artha Tatwa, was charged with criminal conspiracy by the CBI. Although his name had cropped up after the chit fund scam erupted last year, he did not figure in the list of people interrogated by the Commissionerate Police which was probing the case before it was handed over to the CBI on the basis of a Supreme Court order. An audio tape, allegedly containing the telephonic conversation between Tripathy and Artha Tatwa chief Pradeep Sethy, had appeared in the public. However, Tripathy had refuted the allegations. It may be noted that during his tenure as the president of the State Cooperative Union, Sethy was conferred with the 'Best Youth Co-operator' award.

The HC had reserved its verdict on Tripathy's bail petition after hearing the arguments from both sides on February 24. The HC had earlier given him interim relief on September 30 last year for about 20 days, preventing his possible arrest by the CBI. The HC had rejected his anticipatory bail plea on October 20.