A Sri Lankan court on Tuesday granted bail to former President Ranil Wickremesinghe, who was arrested last week on charges of misusing state funds when he was in power.

The court granted him bail on three surties of Rs 5 million each.

Further magisterial inquiry was fixed for October 29, reported Daily Mirror.

The former Sri Lankan President appeared in the court via video conference from a state-run hospital.

He was the first former President of the country to be arrested.

With hundreds of his supporters and opposition leaders assembling close to the court premises, police had cordoned off the area to control the crowd.

Following his arrest, the former President was first admitted to the prison hospital before being transferred to the National Hospital ICU after his health deteriorated.

Sri Lanka's Criminal Investigation Department (CID) on Friday arrested former President Ranil Wickremesinghe over alleged misuse of state funds.

The probe concerns his September 2023 visit to London to attend a University of Wolverhampton graduation ceremony for his wife, Professor Maithree Wickremesinghe, during which investigators claim government money was used for travel and security expenses, reported Daily Mirror Online.

The President, however, denied the charges levelled against him.

He has argued that his wife bore her own costs and no public funds were misused.

Ranil Wickremesinghe served as the President from 2022 to 2024, the period when the Island Nation battled one of the worst economic crises.

He took up the role after his predecessor Gotabaya Rajapaksa escaped from Sri Lanka amid severe protests.

He is often widely regarded as a person who helped the country fight back during the economic crisis period.

In his political career, he had served six separate terms as prime minister.

He is now the first ex-Sri Lankan President to be arrested.