The alleged kingpin of the Saradha scam that shook the state 13 years ago obtained bail in possibly the last case pending against him on Wednesday.

Lawyers in Calcutta High Court said Sudipta Sen, the owner of the chit fund Saradha, could walk free as early as Thursday.

Sen’s lawyer told the court there are 389 cases against him. Of them, Sen had obtained bail in 387 till Tuesday.

On Wednesday, the division bench of Justice Uday Kumar and Justice Rajarshi Bharadwaj granted Sen bail in the remaining two cases pending with Barasat police.

Sen’s counsel Sabir Ahamed said his client is now 64 and has served 13 years in jail, which is double the maximum punishment for his alleged offences.

“He is suffering from multiple ailments and has suffered a stroke. He has already served 13 years in jail,” Ahamed said.

Saradha, a chit fund owned and managed by Sen with his aide Debjani Mukherjee, had allegedly cheated thousands across Bengal, Odisha and Tripura with investment schemes, making false promises of inflated returns. Sen and Mukherjee, who fled the city together, were arrested in Kashmir in April 2013.

The CBI’s special public prosecutor, Amajit Dey, submitted that out of the 389 cases, the CBI probed 77. The contents of these cases were drawn up into four FIRs. “He has obtained bail in all four cases and furnished the bail bonds,” Dey said.

The division bench on Wednesday passed the bail order after hearing all sides.

“There appears to be a systemic collapse of the trial machinery in these two cases. In Case No.901 of 2013, the investigation concluded in 2014, yet for a decade, mandatory copies under Section 207 of the CrPC were not supplied… We find the state’s plea that non-supply was due to the petitioner’s non-production to be entirely unsatisfactory. The state failed to demonstrate any effort to seek production orders, and the trial court similarly failed to exercise its oversight...,” the division bench said.

“The petitioner shall be released on bail subject toconditions, ensuring his availability to the law as and when the records are reconstructed, and procedural defaults are rectified… Accordingly, we direct that the petitioner, Sudipta Sen, be released on bail in connection withBarasat PS Case No. 901 of 2013 and Barasat PS Case No. 937 of 2013, upon furnishing a bond of ₹5,000,” the courtordered.