Special Judge Parveen Singh also granted the relief to suspected middleman Harishankar Jha, who was arrested along with Singh by the CBI.
The court granted bail to both the accused on a personal bond of Rs two lakh each and one surety of like amount.
The probe agency recently filed a charge sheet against the accused for the alleged offences of criminal misconduct by public servant, receiving illegal certification and criminal conspiracy under the IPC.
According to CBI, Jha was allegedly receiving the bribe amount, which was a part payment for the total amount agreed upon, from a hawala operator in Karol Bagh area.
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A CBI official had said that a private university based in Rajkot (Gujarat) had applied for setting up a new Homoeopathy college.
"It was alleged that...The Vice President of the said University was in a regular contact with both the President of CCH and a private person for getting inspection carried out by such team of inspectors of CCH who would give favourable inspection report," the agency had said.
It said R K University wanted to set up the Homeopathy college for which mandatory clearance was needed from CCH, a statutory body for regulating education in the field, which accords it after inspection and deliberation among its various committees.
Singh allegedly deputed a team-- comprising Shrivastava,
The president of CCH had demanded illegal gratification and the part amount of which Rs 20 lakh was to be delivered in New Delhi and the same was to be collected from a hawala operator, the FIR alleged.
Jha had obtained an alleged bribe of Rs 20 lakh on behalf of then president of CCH, CBI alleged in the FIR.
"Searches were conducted at Delhi, Rohtak, Gurgaon, Rajkot, Gandhinagar, Jabalpur and Kolkata, including (at) the official and residential premises of accused persons and others which led to recovery of incriminating documents.