Observing that Kumar had made out a prima facie case for bail, Justice Sadhana Jadhav granted him relief on Friday on a personal bond of Rs two lakh with one or more sureties in the same amount.
She also said that Kumar shall not visit any of the offices of Central Board of Film Certification (Censor Board) including the ones at Mumbai and Chennai till the investigation is over.
Kumar will have report to the investigating officer in Mumbai on Wednesdays and Fridays starting from October 29 and cooperate with the investigating agency, the judge added.
The CBI had opposed his bail plea saying that he may influence witnesses if released.
Hiten Venegaonkar, CBI's lawyer, submitted that the scope of the probe was very wide, and the agency had yet to record statements of several panelists and officers of CBFC at Chennai and Mumbai.
In view of this, it would not be possible to file the charge sheet within the statutory 60-day period which will expire on October 18, he said.
The HC however noted that Kumar was in jail for more than 50 days, and CBI was likely to file the chargesheet in a hurry without full-fledged investigation .
If chargesheet is not filed within the stipulated period bail is granted to the accused.

Kumar's lawyer, senior advocate A P Mundargi, pointed out that after Kumar's arrest he had been sent back to his parent department, the railways, and he will give an undertaking not to leave Mumbai without the permission of the investigating agency.
The court noted that Kumar, as CEO, headed the panel of members/directors who certified the films.

"It is noticed that he had brought about some changes in the process of certification of films," the judge said.
On August 12, Pravin Mohare, an authorised agent for censor certification, complained to CBI he was told by one Mishra that for obtaining a censor certificate urgently, he will have to pay Rs 70,000 to Kumar.
CBI laid a trap on August 13 and arrested Mishra and Sarvesh Jaiswal for allegedly collecting the bribe.

They allegedly told CBI that they had taken the money on Kumar's behalf, following which he too was arrested.

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