Ranchi, April 25: Jharkhand High Court today granted bail to former Dubai-based businessman Anil Adinath Bastawade, an accused in the infamous disproportionate assets case involving former Jharkhand chief minister Madhu Koda, on grounds of prolonged custody.

In Birsa Munda jail since January 30, 2013, Bastawade's prolonged custody and the fact that only 10 out of 70 witnesses had been examined by the ED in the case, made the high court grant him bail today.

Bastawade had earlier appealed for bail but the high court had rejected it.

Non-bailable arrest warrants were issued against Bastawade and six others by the special Prevention of Money Laundering Act (PMLA) court, Ranchi, on August 23, 2010, on charges of money laundering and facilitating Koda's investments overseas. Koda had denied any dealings with Bastawade.

Following an Interpol red corner notice, Bastawade was detained on January 22, 2013, in Indonesia.

PMLA court

Bastawade, along with former chief minister Madhu Koda, his one-time aides Vinod Sinha and Vikas Sinha, were also produced on Monday before the special PMLA court of B.K. Tiwary. Pune businessman Ketan Saraf, who deposed before the PMLA court, denied links with Koda.