AHMEDABAD: After four years of probe by the Central Bureau of Investigation, Amit Bhatnagar, the promoter of Vadodara-based Diamond Power Infrastructure Ltd (DPIL), was granted regular bail by Gujarat high court. Bhatnagar is charged with cheating banks to the tune of Rs 2,654 crore.

Bhatnagar was released on temporary bail by the court earlier and since then he has been out of jail. Justice Sonia Gokani on Wednesday granted him regular bail after he furnished a personal bond of Rs 2.5 crore and two sureties of Rs 50 lakh each. His passport, however, will not be released. The CBI counsel submitted to the court that the restrictions on his movement could be relaxed and the earlier condition of not leaving Vadodara city may be modified to allow him to travel within the country.