Granting bail, the single bench of Justice H C Mishra asked Koda to surrender his passport.
According to his advocates, Koda has already obtained bail in four cases previously.
"This was his fifth and final bail, and he is expected to walk free in a day or two," his advocate Biswajeet Mukherjee said here.
Koda has been in judicial custody since November 30, 2009, after being accused of involvement in money laundering, illegal investments, rural electrification and other scams.