Granting the bail yesterday, Justice P N Prakash directed him to surrender his pass port and appear before the Investigation Officer until further orders.
Cholan was arrested on August 26 by CBI for allegedly demanding and accepting Rs 10 lakh as illegal gratification from noted industrialist M A M Ramaswami to declare null and void resolutions that may be passed at his Chettinadu Group of Companies' Annual General Meeting on August 27.
Besides the Rs 10 lakh, "incriminating" documents and a computer hard disc were seized from Cholan. Also, an amount of Rs 20 lakh was seized from Cholan's house.