S. Nagarajan, the former managing director of Olympus Granites executed the bail bond at the Judicial Magistrate Court in Melur on Thursday.
He is likely to appear at Keelavalavu police station everyday from Friday until further orders from the High Court Bench. On Thursday, he appeared before Melur Judicial Magistrate accompanied by a fewer cadres from the DMK at around 11 a.m. to execute the bond. He stayed there till noon to complete the formalities.
Union Minister M. K. Alagiri’s son Durai Dhayanithi, a former partner in the firm and Mr Nagarajan were granted anticipatory bail by the High Court Bench on Monday. Mr. Nagarajan and Mr. Durai were accused of quarrying granites illegally from government poromboke lands, causing around Rs. 44 crore loss. However, Mr. Nagarajan denied the charges stating that he had stepped down from the post of Managing Director in early 2012.