 "SC grants bail to Madhu Koda in money laundering case")
A Bench comprising justices H L Dattu and Ranjan Gogoi said the trial court hearing their case in Ranchi will fix the conditions for grant of bail.
However, Koda will remain in jail as he has not been granted bail in two other cases of alleged income tax evasion and bribery in the Rajiv Gandhi electrification project in Palamu and Dumka districts in Jharkhand.
The former Chief Minister was earlier granted bail by Jharkhand High Court in a disproportionate assets case and a bribery case relating to forest clearance.
Koda has been lodged in Birsa Munda Central Jail in Ranchi where he has been confined since November 2009 for his alleged role in corruption and other cases.
While seeking bail, he had submitted that the Enforcement Directorate had made a statement in the trial court that the probe in the case was complete.
Koda had approached the apex court after his bail plea was rejected by the High Court.
He had also got bail earlier in a case of alleged violation of Model Code of Conduct during election.
On September 25, 2012 charges had been framed against Koda by a Jharkhand court pertaining to laundering of Rs 3,549.72 crore.
Koda has been accused by the ED of making illegal investments worth Rs 1,340 crore out of the total amount.
Anil Bastawade, a close associate of Koda, was deported in January from Indonesia to establish the link between them in connection with illegal accumulation of wealth.