West Bengal transport minister Madan Mitra was granted bail on Saturday in connection with the multi-crore-rupee Saradha scam by the Alipore court in Kolkata.
The court was hearing a bail petition moved by his lawyers at the court and the judge granted him conditional bail on a personal bond of Rs 2 lakhs.
Madan Mitra was arrested by the CBI on 12th December 2014 on charges of criminal conspiracy, cheating and misappropriation of funds.
He was also charged with deriving undue financial benefits from the Saradha Group.
His arrest came in the wake of him holding a post in the Saradha Group of Companies.