The Supreme Court on Monday ordered that anchorperson and former chairman of Pakistan Television (PTV) Dr Shahid Masood be released on bail in a case pertaining to corruption in the state television.

A two-judge bench headed by Justice Manzoor Ahmed heard the case and ordered that the anchorperson be released against bail bonds worth Rs500,000.

During the hearing, the bench observed that three other suspects in the case have already been granted bail by the trail court.

FIA had arrested Masood from the premises of the IHC on November 23 after his bail plea had been rejected in the PTV corruption case. The anchorperson was later sent to Adiala jail on judicial remand.

Masood, who was appointed PTV chairman in the tenure of Pakistan Peoples Party (PPP), is accused of signing an agreement with a fake company to negotiate with the Pakistan Cricket Board (PCB) for grant of rights for coverage of cricket matches played in Pakistan.

Masood was involved in embezzlement of around Rs37 million from PTV as he negotiated with PCB for media rights and granted them to a fake catering company, according to FIA.