Additional Sessions Judge Mangal Prasad also imposed a fine of Rs 50,000 each on Ilyas and Pakistani national Abdul Matin, and acquitted Tasleem.
Sixteen people were killed and over 18 injured, when a blast took place in a UP roadways bus in Modinagar, when it was on way to Uttarakhand from Delhi.
Investigation agency CB-CID had first arrested Ilyas and Tasleem, in connection with the blast.
During interrogation, both the accused had revealed that Matin was main conspirator in the blast, after which police also arrested him. Charges were framed against the trio in 2003.
The court had concluded hearing in the case on April 4. A total of 34 witnesses were examined by the prosecution.