A local court today granted conditional bail to V M Radhakrishnan, a businessman, who was arrested on March 19 in connection with the death of V Saseendran, former company secretary of Malabar Cements Ltd and his two young sons.
The Chief Judicial Magistrate Ernakulam directed Radhakrishnan to execute a bond for Rs five lakh. He was also directed not to leave the state and appear before investigating officers every Sunday between 9 AM to 10 AM for five months until the chargesheet is filed.
Saseendran and his two sons were found hanged in their house at Kanjikode in Palakkad district on January 24, 2011.
CBI had arrested Radhakrishnan on March 19 on the charge of abetting them to take the extreme step.
Investigation and the arrest were based on the statement of Saseendran's wife that her husband had been under severe mental pressure to suppress corruption and irregularities in the company.
Death of Saseendran and his children led to public outrage with certain political quarters alleging the company official had been under severe pressure to hide some of the corrupt deals involving contractors with "high connections.
