A Bangladeshi man accused of stealing MVR 442,275 from under the seat of a motorcycle has been granted a conditional release from custody.

Criminal Court Judge Hussain Faiz Rashad ordered Jahangir Alam, 45, to be released from custody on Thursday.

He was arrested on September 12 with a court order on charges of theft. His remand was extended seven times and he spent a total of 60 days in custody.

The court order issued on Thursday states that preparing reports and consulting the Prosecutor General's (PG) office were the remaining pending work for the investigation and that these were not matters that Jahangir can influence.

It added that there was no evidence to indicate that there was a possibility of influencing the witnesses.

The court said the police had previously submitted a form to the court seeking his release including documents on his medical condition.

"The defense counsel pointed out that the IO (Investigating Officer) has stated in remand hearings that he needs surgery due to his illness, that he is taking care of a family and that there was no way to verify that he had stolen the money apart from a statement," the order read.

However, police have submitted CCTV footage which shows Jahangir taking something from under the seat of a motorcycle.

Jahangir is charged with a serious criminal offense under Article 22 of the Criminal Procedure Act.