Trinamool Congress' Madan Mitra, arrested in the Saradha scam in 2014, was granted bail on Friday. (File)
Early this morning, Trinamool Congress leader Madan Mitra left the jail after nearly 2 years but couldn't go home. He checked into a hotel in the Bhowanipore area of Kolkata.
Among the conditions for his bail set by court is one which says he has to stay within the limits of the Bhowanipore police station. Mr Mitra's home is in the neighbouring Kalighat area.
"I'm very happy. I'm happy that I'll be with my family. I'm a civilised person and I'll abide all the conditions of the court. I'll not break the law. Now I'll take complete rest and enjoy my time with my family members and enjoy Durga Puja," Mr Mitra said after his release.
"Time will prove my innocence," he added, as his followers gathered outside the hotel, celebrating with Holi colours and distributing sweets.
Mr Mitra's lawyer has said an appeal would be made to the court so that he could go to his residence. "Because the court is closed today the plea will be made next week," counsel Niladri Bhattacharya told Press Trust of India.
Arrested in December 2014 for links with the Saradha chit fund scam, Mr Mitra got bail last October. But the CBI investigating the case told court saying Mr Mitra "was a person of influence" and should not be allowed out. He was back in jail within a fortnight.
Since then, Mr Mitra contested the Bengal Assembly polls and lost his seat. That meant Mamata Banerjee, Trinamool chief and chief minister, could not make him a minister.
Mr Mitra had to pay a bail of Rs 30 lakh and surrender his passport. He will have to report to CBI once a week.
Investigation into the Saradha Group's ponzi scam, which came to light in 2013, is estimated to have wiped out over Rs. 2,000 crore of savings by the middle class and the poor who had invested in the hope of unreal returns. Over 100 people who had invested in the Saradha chit funds have committed suicide.
Former Union minister Matang Sinh is among those arrested in the case, while several Trinamool functionaries, including Chief Minister Mamata Banerjee's close aide Mukul Roy, have been questioned.