Additional sessions judge V V Bambarde granted bail to Hanumant Jagdale (NCP), Vikrant Chavan (Congress) and Sudhakar Chavan (MNS). Another accused corporator, Najeeb Mulla of NCP, is already out on bail.
These corporators were in jail since December 5, 2015.
Parmar, head of the city-based Cosmos group, shot himself on October 7, 2015. In his suicide note, he alleged that some corporators and officials of the Thane Municipal Corporation were harassing him for bribes and blocking the approvals for his projects.
The charge sheet in the case too had been filed, he said, arguing against the bail to the remaining three accused.
Parmar's suicide note was almost like a dying declaration, the prosecutor said, adding that though the charge sheet had been filed, investigation was still underway and a special investigation team had been formed.
The investigators had more than sufficient evidence to prove the case prima facie, he said. The court, however, granted bail to the three accused.