Pune, Apr 19 (PTI) A court here on Saturday granted bail to Servants of India Society secretary Milind Deshmukh in a case pertaining to alleged diversion of funds belonging to the city-based Gokhale Institute to secure freehold possession of a property of the SIS in Nagpur.
Deshmukh was arrested on April 6 after the Gokhale Institute of Politics and Economics' assistant registrar filed a complaint against him for allegedly diverting Rs 1.42 crore.
Earlier this week, Deshmukh was remanded in judicial custody and subsequently, he moved a bail application before A A Pande, judicial magistrate (first class).
The court granted bail to Deshmukh on a personal bond of Rs 50,000, said his lawyer advocate Ujjwala Pawar.
The Gokhale Institute, run by the Servants of India Society founded by eminent pre-Independence Congress leader Gopal Krishna Gokhale, has been in the eye of the storm for the last few weeks.
Its chancellor, economist Sanjeev Sanyal was recently removed from his position by Damodar Sahoo, President of SIS, citing the institute's "declining academic standards", only to be reinstated two days later.