Former State Bank of India (SBI) chairman Pratip Chaudhari, arrested for selling a hotel allegedly in a fraudulent way, was granted bail by a Jaisalmer court on Tuesday.
Mr Chaudhari was sent to judicial custody for 14 days on November 1 after being arrested for selling the hotel.
He was granted bail by Additional District and Sessions Judge Dalpat Singh Rajpurohit.
The ex-SBI chief had been arrested on October 31 from his residence in Delhi in connection with a loan case of the hotel in Jaisalmer.
A case was registered against Mr Chaudhari in 2015 for seizing the hotel property in a loan settlement case and allegedly selling it at a throwaway price through fraudulent means.
Mr Chaudhari became a director on the board of the company which purchased the hotel, the police had said.