Kochi, Dec 30 : Kerala CPI (M) Secretary Pinarayi Vijayan was today granted bail by a Central Bureau of Investigation (CBI) court in connection with the state''s financial fraud controversy- the SNC Lavalin case.

Judge K P Jothindranath granted bail to Vijayan and directed him to furnish a bail bond of two lakh rupees and two sureties for a similar amount.

Vijayan was the State Electricity Minister when the SNC Lavalin scam broke out.

SNC Lavalin power scandal is one of the biggest financial scams to rock Kerala.

The Comptroller and Auditor General of India report indicted a CPI (M)-led government of the mid-1990s for a Rs 374.50 crore loss to the exchequer.

Vijayan figured as the seventh accused in a charge sheet filed by the CBI. Later, the CBI moved to seek the Government''s consent to prosecute him.

Three hydel power stations had to be upgraded at Pallivasal, Sengulam and Panniar. Tenders were invited and was finalised to an Indian consortium and a Canadian MNC.

The foreign company quoted Rs 2.42 crore per MW, the Indian consortium - BHEL and LandT - sought Rs 1.25 per MW. The contract went to the higher bidder, contrary to normal practice. (ANI)