A special court on Tuesday granted conditional bail to the managing director of a real estate firm who was arrested on charges of duping investors of Rs 15 crore in Khordha district after promising them prime land on the outskirts of the city. Adjudicating the bail plea, the court asked accused Gayadhar Jena to deposit bank guarantee of Rs 8 crore and submit a bond of Rs 30,000 and two sureties. The Economic Offences Wing (EOW) of the Crime Branch had arrested Jena from his Jayadurga Nagar office in the city after a surprise raid in March this year. The company also has offices at Patia in the city as well as at Khordha.