CHENNAI: The Madras High Court on Thursday granted anticipatory bail to S.P.Velayutham, who was earlier fielded by the VCK as its candidate in the Villupuram Lok Sabha constituency, in a case of alleged cheating. The allegation against Mr.Velayutham is that he cheated a land developer, Rakindo Developers (P) Ltd, of Alwarpet here. The company had entered into a memorandum of understanding with him for purchase of lands and paid him Rs.171 crore through cheques. Neither lands were purchased for the company nor the money repaid.
In his order, Justice P.R.Shivakumar said that in the event of arrest, the petitioner should be released on bail on his executing a bond for Rs.25,000 and two sureties for a like sum each. He should appear before the CBI as and when required. Notice should be issued to him by the investigating agency whenever he was required for examination.