The court of principal judge P B Desai granted bail to Abdul Samad, who was one of the two accused--out of a total 12--against whom the NIA did not file a charge sheet in the case.
The court granted bail to him on a bond of Rs 15,000 and condition that he will not go out of Gujarat.
Samad was arrested by police on November 17 last year and filed the bail plea under section 167 of CrPC after the NIA could not file charge sheet against him within 180 days of his judicial custody.
The NIA said it will continue further investigation against them and will produce further evidence before the court when they get it.
In the charge sheet against ten accused filed on May 7 in the murder of two BJP leaders, NIA said it was a conspiracy by an "international terror module" operated by "D" company to kill people from Hindu organisations so as to foment "communal passions."
The two BJP leaders - former party president of Bharuch district and senior RSS member Shirish Bangali and general secretary of Bharatiya Janta Yuva Morcha of Bharuch district Pragnesh Mistry - were shot dead by two unidentified gunmen in Bharuch on November 2 last year.
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