<p>Indian industrialist Pramod Mittal, brother of steel magnate Lakshmi Mittal, was released Tuesday after payment of 12.5 million euros, a week after his arrest in a Bosnian fraud probe, a prosecutor said Tuesday.</p>.<p>Pramod Mittal was caught up in the inquiry following the suspicious transfer of 21 million Bosnian marks (nearly 11 million euros, USD 12 million) from the bank account of a coking plant between 2006 and 2015.</p>.<p>The 62-year-old head of the supervisory board of GIKIL, which operates a coking plant in the northeastern Bosnian town of Lukavac, was arrested last Tuesday.</p>.<p>Two other company officials -- general manager Paramesh Bhattacharyya and another member of the supervisory board, Razib Dash, -- were also arrested.</p>.<p>A court in Tuzla, in the northeast on Tuesday "annulled the provisional detention order and all (three) suspects have been released," prosecutor Cazim Serhatlic told AFP.</p>.<p>They had been detained for a month in view of the "flight risk, repetition of criminal acts and breach of public order".</p>.<p>Bail for Mittal was set at one million euros and 250,000 euros for the other two Indians. All three were forbidden to hold any senior positions at GIKIL.</p>.<p>Serhatlic said an "insurance" of 11 million euros was also paid into a special account and had to remain there until the end of the proceedings. The company was founded in 2003 and is co-managed by Pramod Mittal's Global Steel Holdings and a local public company (KHK).</p>.<p>In operation since the 1950s, the coking plant employs around 1,000 people.</p>.<p>In India, Lakshmi Mittal, CEO of global steel giant ArcelorMittal, has reportedly spent millions to keep his cash-strapped younger brother afloat.</p>
<p>Indian industrialist Pramod Mittal, brother of steel magnate Lakshmi Mittal, was released Tuesday after payment of 12.5 million euros, a week after his arrest in a Bosnian fraud probe, a prosecutor said Tuesday.</p>.<p>Pramod Mittal was caught up in the inquiry following the suspicious transfer of 21 million Bosnian marks (nearly 11 million euros, USD 12 million) from the bank account of a coking plant between 2006 and 2015.</p>.<p>The 62-year-old head of the supervisory board of GIKIL, which operates a coking plant in the northeastern Bosnian town of Lukavac, was arrested last Tuesday.</p>.<p>Two other company officials -- general manager Paramesh Bhattacharyya and another member of the supervisory board, Razib Dash, -- were also arrested.</p>.<p>A court in Tuzla, in the northeast on Tuesday "annulled the provisional detention order and all (three) suspects have been released," prosecutor Cazim Serhatlic told AFP.</p>.<p>They had been detained for a month in view of the "flight risk, repetition of criminal acts and breach of public order".</p>.<p>Bail for Mittal was set at one million euros and 250,000 euros for the other two Indians. All three were forbidden to hold any senior positions at GIKIL.</p>.<p>Serhatlic said an "insurance" of 11 million euros was also paid into a special account and had to remain there until the end of the proceedings. The company was founded in 2003 and is co-managed by Pramod Mittal's Global Steel Holdings and a local public company (KHK).</p>.<p>In operation since the 1950s, the coking plant employs around 1,000 people.</p>.<p>In India, Lakshmi Mittal, CEO of global steel giant ArcelorMittal, has reportedly spent millions to keep his cash-strapped younger brother afloat.</p>