Rajan, 64, is one of the dreaded mafia syndicate bosses in Mumbai.Mumbai: The Bombay High Court on Wednesday granted bail to underworld gangster Chhota Rajan, who was convicted earlier this year in connection with the murder of a hotelier in Mumbai in 2001. The court has suspended his life sentence.A division bench of Justices Revati Mohite Dere and Prithviraj Chavan directed the gangster to furnish a bond of Rs one lakh for the bail, reported news agency PTI.Despite the bail, Rajan will continue to remain in jail as he is also serving a life sentence for the 2011 murder of journalist Jyotirmoy Dey, and other criminal cases.On May 30 this year, a special court convicted Rajan and sentenced him to life imprisonment for the murder of Jaya Shetty – who owned the Golden Crown Hotel at Gamdevi in Mumbai. On the night of May 4, 2001, two of Rajan’s shooters allegedly barged into the hotel premises and killed Shetty on the upper floor of the joint. A probe into the case had revealed that the victim had complained of getting extortion threats and calls from Rajan’s associates and was killed because he failed to pay the money.Rajan, 64, is one of the dreaded mafia syndicate bosses in Mumbai. He was first arrested in 1979 for assaulting police constables. After he was released from jail, the gangster joined the Bada Rajan gang and then sought refuge under Dawood Ibrahim. In 1989, Rajan sneaked off to Dubai and Indonesia – where he spent nearly 27 years as a fugitive on the run. He was deported to India in November 2015.The underworld gangster is wanted in several criminal cases, including murder, extortion, smuggling, and drug trafficking.