Special CBI Judge Arvind Kumar granted the relief to Sharma on a personal bond of Rs one lakh and one surety of like amount, saying no purpose would be served by keeping him in custody.
The court also put several conditions on the accused and asking him not to influence any witness or tamper with evidence and not to leave the country without the court's prior permission.
The accused had sought bail on the ground of parity with Kumar who was granted the relief by the court on July 26. CBI, however, had opposed his bail plea.
CBI had registered a case against Kumar and others in December last year alleging that the officials had abused their official position by "favouring a particular firm in the last few years in getting tenders of Delhi government departments".
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It had arrested seven people in this case in which three are already out on bail.
The accused have been charged under section 120-B of IPC (criminal conspiracy) and provisions of the Prevention of Corruption Act relating to criminal misconduct for allegedly favouring ESPL in bagging of five contracts.
This is the same case in which the agency had come under scathing criticism from the court which had directed it to return documents sought by the Delhi government seized during December 15, 2015 search of Kejriwal's office.
Arrest of the top state government official had triggered a political storm with the Delhi government accusing the Centre of indulging in "political vendetta" and "paralysing" governance.