Special Judge Manoj Jain granted bail to Quddusi on a personal bond of Rs one lakh and a surety of a like amount.
Quddusi is currently in Tihar jail from where he will be released.
Another accused, Bhawna Pandey, was also granted interim bail for one week.
However, the court kept the bail pleas of B P Yadav, the chairman of a medical college, and his son Palash Yadav of Prasad Institute of Medical Science in Lucknow, pending. These will be decided on October 6.
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Prasad Institute of Medical Sciences is one of these 46 debarred institutions.
According to the CBI, the arrests were made on September 20 after search operations at eight locations, including the residence of Quddusi in Greater Kailash area of South Delhi, as also in Bhubaneswar and Lucknow.
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