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Harshad's brothers released on bail

Bharati Dubey in Mumbai

The two brothers of 'Big Bull' Harshad Mehta, held in a case of alleged misappropriation of Rs 2.50 billion from 2.7 million blue chip companies, were on Monday released on interim bail by Mumbai High Court till January 5.

Sudhir and Ashwin Mehta were granted bail on personal bond of Rs 100,000 each by Justice Vijaya Tahilramani for attending the last rites and religious ceremonies for their brother Harshad, who died of cardiac arrest early on Monday morning at the civil hospital in neighbouring Thane.

Their lawyer Shirish Gupte urged for interim bail for 15 days to enable the Mehta brothers attend the religious ceremony. CBI prosecutor Raja Thakre left it to the discretion of the court.

"Under the circumstances, I think fit and proper to grant them interim bail till January 5. More so because they have not misused any bail conditions in the past in other cases," the judge noted.

The court also granted liberty to the accused to urge for extension of their interim bail by filing a separate petition.

Ashwin and Sudhir were arrested by CBI along with Harshad on November 9.

Soon thereafter, Ashwin was admitted to the local J J Hospital for treatment of cardiac problems, while Harshad and Sudhir were lodged in jail and remanded to judicial custody till January 4.

With additional inputs: PTI

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