A local court here Thursday released leading real estate developer Suresh Raheja on bail in a case of alleged evasion of customs duty on goods brought from London.

Raheja, managing director of constructions major Raheja Universal, was arrested by Mumbai airport customs officials late Wednesday for possessing goods worth Rs.2 million without paying duties and appropriate clearances.

The builder was produced in a local court here Thursday that granted him bail on a personal bond of Rs.100,000.

The court, however, has seized Raheja's passport and asked him to be present at the airport intelligence unit's local office every day till next Friday.

The duty on goods imported by Raheja from London exceeded Rs.400,000.