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Justice Suresh Kait granted relief to the Congress leader saying that Shivakumar is not a flight risk.
The judge also said that Shivakumar cannot tamper with evidence as documents are with investigating agencies and there is no material to show he has influenced witnesses.
The court directed that he be released on bail on furnishing a bond of Rs 25 lakh and two sureties of like amount.
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Shivakumar, 57, was arrested by the ED on September 3 in the money laundering case. He is lodged in Tihar jail under judicial custody. He has challenged the trial court’s order denying him bail in the case.
The Enforcement Directorate (ED) had opposed his bail plea saying he was an influential person and, if released, he could tamper with evidence and influence witnesses.
Shivakumar, a seven-time MLA in Karnataka, was booked along with Haumanthaiah — an employee at Karnataka Bhavan in New Delhi– and others for alleged offences under the Prevention of Money Laundering Act (PMLA).
The case was based on a charge sheet filed by the Income Tax Department against them last year before a special court in Bengaluru on charges of alleged tax evasion and ‘hawala’ transactions worth crores or rupees.
The I-T department has accused Shivakumar and his alleged associate S K Sharma of indulging in transactions involving huge amounts of unaccounted money on a regular basis through ‘hawala’ channels with the help of three other accused.