'Pay up debt, get bail'

Published: 19th June 2013 11:37 AM  |   Last Updated: 19th June 2013 11:37 AM   |  A+A-

The high court on Tuesday directed a city realtor to repay Rs 3.5 crore which he had taken from a Mumbai developer, in order to grant him bail.

Venkatachalapathy of R V Layout in Kumara Park-West had filed a bail petition after he was arrested by Vyalikaval police on the charges of cheating a Mumbai developer from whom he had taken a loan of `3.5 crore, but failed to return it.

The counsel for the petitioner sought eight months time to repay the debt, but Justice Byrareddy gave him one week time to tell the court how will raise the money to repay the debt.

The judge also told him that bail may be granted only if he paid up, and adjourned the case for further hearing.


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