RK Agrawal leaves the court premises in Ranchi on Tuesday. Picture by Hardeep Singh

Ranchi, April 9: Jamshedpur businessman R.K. Agrawal, a candidate in the countermanded Rajya Sabha elections of 2012, surrendered and got bail today, but CBI sources claimed it was a setback in the ongoing probe into the Rs 2.15 crore cash stash that was seized on the day of voting.

Agrawal, along with another Independent candidate Pawan Kumar Dhoot, have been under the scanner for allegedly using unaccounted for money to induce MLAs in exchange for their votes.

Agrawal, who is president of Singhbhum Chamber of Commerce and Industry, was linked to the car that was seized by the police in Namkum on the outskirts of Ranchi on March 30, 2012 after Rs 2.15 crore cash was found inside.

Police have filed FIRs against three — Agrawal’s son-in-law Saumitra Shah, owner of Shah Sponge and Power Limited, his employee, Sudhanshu Tripathy who was in the car with the cash along with driver Nanku Ram.

The court of Justice Yashwant Prakash granted bail to Agrawal since he had not been named in the FIR. The hearing began at 10am was over in two hours.

“Though public prosecutor (CBI) S.K. Yadav, supported by former deputy legal adviser of CBI B.M.P. Singh and assistant public prosecutor Sushil Kumar, were in the court to oppose the bail, the judge did not accept their plea,” an advocate present in the court said.

The advocate maintained that the court granted bail to Agrawal as he had not been named as an accused. Also, the IPC sections, 171F (influencing elections using unfair means) and 188 (for flouting orders promulgated by a public servant), under which an FIR was registered against Shah, Tripathy and Ram, were bailable.

Soon after being granted bail, Agrawal said he had full faith in the judiciary. “I will extend full co-operation in the trial of the case. I have no connection with the money that was recovered,” he told journalists outside the court.

Agrawal had applied for anticipatory bail to special CBI judge R.K. Choudhary after a search warrant was issued against him. But, the judge rejected the plea on April 5, directing him to surrender and obtain regular bail from a lower court.

Today’s development is a huge blow to the CBI.

Although CBI DIG S.K. Bhagat refused to comment, investigating officer A.K. Jha admitted “it is a bit demoralising”.

So far, the CBI has interrogated and searched a number of people, including candidates and their associates in Ranchi and Jamshedpur. But, the agency has not filed a chargesheet.

“The agency is in the final phase of probe and we are trying to complete it by April 15 when the matter will be heard by the Jharkhand High Court again. What happened today will have an impact on the case. After all, other suspects of the case can also move court to secure bail on this ground,” said a senior CBI officer, blaming mismanagement and miscommunication on the part of agency and prosecution for the development.