Ritheesh, representing Ramanathapuram Lok Sabha constituency, was arrested on November 27 on a complaint by one Rajasekar who alleged that his father had entered into a MoU with the MP and purchased some of his property in Kancheepuram, paying Rs 20 crore advance.
As the title deeds were found defective, he was liable to pay back the amount, Rajasekar said.
After his father's death, Rajasekar said he approached Ritheesh to pay the amout, but he refused.
Ritheesh later entered into another MoU with Rajasekar to pay Rs 19.73 crore or its worth of land with a condition that in the event of failure with the terms, he would repay the amount in cash with interest.
Rajaesekar in his complaint said the MP failed to repay the amount and threatened him with dire consequences.
A Metropolitan Magistrate court had last week remanded him till December 11.
Chief Metropolitan Magistrate T Nazir Mohammed granted bail to him today while dismissing the petition filed by police seeking to order custodial interrogation of Ritheesh.
