Former State Bank of India (SBI) chairman Pratip Chaudhari, arrested for promoting a resort allegedly in a fraudulent method, was granted bail by a Jaisalmer courtroom on Tuesday.
Mr Chaudhari was despatched to judicial custody for 14 days on November 1 after being arrested for promoting the resort.
He was granted bail by Additional District and Sessions Judge Dalpat Singh Rajpurohit.
The ex-SBI chief had been arrested on October 31 from his residence in Delhi in reference to a mortgage case of the resort in Jaisalmer.
A case was registered in opposition to Mr Chaudhari in 2015 for seizing the resort property in a mortgage settlement case and allegedly promoting it at a throwaway worth via fraudulent means.
Mr Chaudhari grew to become a director on the board of the corporate which bought the resort, the police had mentioned.