LUCKNOW, May 22 -- The Lucknow bench of the Allahabad high court on Thursday granted bail to former MLA and Samajwadi Party leader Vinay Shankar Tiwari and his relative Ajit Pandey in a case related to an alleged Rs.754-crore loan default. The bail was given by a single-judge bench of justice Subhash Vidyarthi.

The Enforcement Directorate (ED) had arrested Tiwari from his New Hyderabad residence in the state capital on April 7, and Pandey from his native village in Maharajganj district in eastern Uttar Pradesh.

Pandey used to manage the company's business from the Noida office. Tiwari is the son of the late Hari Shankar Tiwari, former minister and six-time MLA from Chillupar assembly segment in Gorakhpur district. Hari Shankar Tiwari wa...