While granting Marathe conditional bail on a surety bond of Rs 50,000, the Special Session Judge (MPID) SN Sardesai ordered Marathe not to leave the country without the permission of the court.
A Pune court on Wednesday granted bail to Ravindra Marathe, Managing Director and Chief Executive Officer of Bank of Maharashtra who was arrested in DSK financial fraud case.
While granting Marathe conditional bail on a surety bond of Rs 50,000, the Special Session Judge (MPID) SN Sardesai ordered Marathe not to leave the country without the permission of the court.
Defence lawyer Harshad Nimbalkar said, "While granting the relief, the court has also asked him to cooperate with investigating agency with the investigation and asked him not tamper with any evidence."
On June 20, Marathe and five others were arrested by the Economic Offence Wing of Pune police with the case. The other arrested persons include ex-chairman of the Bank of Maharashtra Sushil Muhnot, Executive Manager Rajendra Gupta, Zonal Manager Nityanand Deshpande, DS Kulkarni's Chartered Accountant Sunil Ghatpande and the Vice President of the engineering department of DSK group Rajiv Newaskar.
After the arrest, all of them were remanded to seven days of police custody. However, on the first night of police custody, Marathe complained of health issues and had to be shifted to hospital for treatment.
Meanwhile, the defence lawyer submitted a bail application in the court and argued that Marathe's arrest was illegal.
"Marathe holds the rank of a secretary by virtue of his position as MD of the bank. According to rules, the police should have taken the permission of the Reserve Bank of India before taking action against him. We have also told the court that the bank officials have no role in the alleged fraudulent transactions, these transactions have taken place between the real estate developer and the depositors," Nimbalkar said.
The police also did not request for the extension of Marathe's police custody.
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 "Ravindra Marathe")
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