Redevelopment contract case: Rishabh Aggarwal granted bail

A Delhi court on Monday granted bail to Rishabh Aggarwal, who was arrested in connection with alleged irregularities in India Trade Promotion Organisation (ITPO) redevelopment contract case.

The Special CBI Court has also asked Aggarwal to submit a Rs 1-lakh personal bond.

The court has posted the hearing on bail plea of Sanjay Kulkarni, managing director of Capacite Structures, for tomorrow.

The court had, on January 5, reserved its order on the bail applications of Kulkarni and Aggarwal, after hearing arguments from defence advocates and the CBI, who opposed the applications saying the accused might hamper the 'initial stage' of the investigation, citing a possibility that both might flee from justice.

According to reports, the investigating agency had booked Mittal, Kulkarni, Aggarwal, and two others -- public servants Pradeep Mishra and Akashdeep Chouhan -- who allegedly delivered the bribe, in the case on December 22.

It alleged in the FIR that the contract to redevelop the prime land at Pragati Maidan was given to Shapoorji Pallonji and Company Pvt Ltd and Shapoorji Pallonji Qatar WLL for about Rs 2,149.93 crore by NBCC.

Mumbai-based Capacite Structures was trying to get that work from Shapoorji Pallonji on sub-contract.

Kulkarni had approached Aggarwal, the suspected middleman of having good contacts with public servants, for getting the sub-contract in favour of the company.

--ANI