"Abdul Qayyum was released at around 5.15 pm today following the Court's order," Arthur Road jail superintendent, Harshad Ahirrao told PTI.
Qayyum, speaking to reporters here after his release, said that he will continue to stay in the country and start a business of his own to earn a living.
"I request (authorities) that the innocent should be spared and not made to suffer. India is my country and I will stay here and do business to earn a livelihood," Qayyum said.
Underworld don Dawood Ibrahim along with Tiger Memon are the prime conspirators in the case.
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Special TADA court on Friday found Abu Salem and Mustafa Dossa guilty of criminal conspiracy charges.
Along with the two gangsters, Firoz Khan, Karimullah Khan, Taher Merchant were also found guilty of conspiracy charges levelled against them.
Accused Riaz Siddiqui was convicted under TADA Act but was acquitted of all other charges.
According to the TADA court, prosecution failed to prove charges of conspiracy against Siddiqui.