The City Central Crime Branch (CCB) had arrested Bhaskaran on June 6 based on a cheating complaint filed by Dharamchand Jain and Prakash.
Jain alleged Bhaskaran had cheated him after receiving Rs 1.30 crore on the promise of arranging for 290 acres of land at Mannur near Sriperumbudur.
When Bhaskaran's bail application came up for hearing today, Principle Sessions Judge G Chokkalingam adjourned it to matter to August 1.