The Bombay High court on Thursday granted Peter Mukerjea bail. He was granted bail on "merits of the case and his medical conditions".
Justice Sambre ordered the former media baron to Mukerjea to pay Rs. 2 lakh as surety.
He has also been prohibited from contacting his children, Rahul and Vidhi or other witnesses in the case.
"When the incident took place, the applicant (Peter Mukerjea) was not in India. The trial in the case is already underway. The applicant is in jail since more than four years and has recently undergone a bypass surgery," Justice Sambre said.
The court however stayed its order for six weeks on the request of the Central Bureau of Investigation (CBI). This is to enable the agency to file an appeal against the order.
Mukerjea was arrested over four years ago, on November 19, 2015 in the Sheena Bora killing case, in which his former wife Indrani Mukerjea is the main accused. According to the CBI, the duo, along with Indrani's previous husband Sanjeev Khanna, entered into a criminal conspiracy to kill Sheena Bora.
24 year old Sheena was Indrani's daughter from an earlier relationship. She was allegedly killed on April 24, 2012.
The murder first came to light in 2015, when Indrani's driver Shyamwar Rai, who had helped them dispose of the body, was arrested in another case. Rai later turned an approver in the Sheena Bora killing case.
Indrani Mukerjea and Sanjeev Khanna have also been lodged in jail since their arrest in the case in April 2015.
(With inputs from agencies)
