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Additional sessions judge V M Pathade allowed his bail application on Wednesday, though the detailed order was not available yet.
Khan, in his plea, claimed that most of the allegations against him were “speculative” and there was no concrete evidence.
The complaint filed against the actor was politically motivated, said the plea filed through advocate Faiz Merchant.
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The accused had cooperated with the investigation since his arrest, it pointed out.
The actor was arrested from Jagdalpur in Chhattisgarh in April this year after the Bombay High Court rejected his pre-arrest bail plea.
Khan, known for films like “Style” and “Excuse Me”, now works as a fitness expert.
A special investigation team is conducting a probe into alleged illegal transactions between certain financial and real estate firms and the promoters of the controversial app.
The size of the scam was about Rs 15,000 crore, as per the FIR registered by the Matunga police.
Police claimed in their reply to the bail plea that investigation was underway against Khan and 31 other individuals.
The Enforcement Directorate is also investigating the money laundering aspect of the case.