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Granting him bail till March 31 next on health grounds, Principal Sessions Judge Syed Bashir Ahmad Kirmani directed him to execute a personal bond of Rs 50,000.
The court directed Qureshi not to leave the state without its permission during the bail period.
Qureshi had hijacked an Indian Airlines Fokker Friendship plane to Pakistan in 1971.
He had surrendered to immigration authorities at the Indira Gandhi international airport on his arrival from Copenhagen (Denmark) last year.
He was brought to Srinagar in January this year.
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