TNN | Aug 21, 2011, 02.03PM IST

http://timesofindia.indiatimes.com/city/ranchi/Koda-aide-gets-provisional-bail/articleshow/9683319.cms

RANCHI: Former chief minister Madhu Koda's aide Arvind Vyas, one of the key accused in the multi-billion money laundering cases, was granted provisional bail by the Jharkhand high court on Friday.

The provisional bail was granted by single judge bench of Justice R R Prasad on humanitarian grounds after the court was informed that Vyas's 70-year-old mother is critically ill and suffering from heart diseases.

Counsel for Vyas pleaded that bail should be granted on humanitarian ground as he is the only son of the family and his father died a couple of years ago. Amit Das, the counsel for Enforcement Directorate, opposed the bail saying that the case was still under investigation.

After hearing the arguments, the court granted provisional bail for three weeks and said he would have to surrender before the Prevention of Money Laundering Act (PMLA) court on September 12. The court also asked Vyas to submit his passport and deposit two sureties of Rs 50,000 each after which he could be released on bail.Vyas, a Mumbai-based hawala operator, is one of the key accused in the multi-billion money laundering case involving Koda and his cabinet ministers.

Vyas was arrested on August 12, 2010, by Enforcement Directorate from Delhi along with his associate Manoj Punamiya, also a hawala operator. According to the Enforcement Directorate, Vyas and Punamiya used to siphon off the ill-gotten money of Koda and his associates to foreign countries for investments. Both Vyas and Punamiya are lodged in Birsa Munda Central Jail along with other accused in the case. Jharkhand high court had earlier rejected the bail petition of Vyas and Punamiya.