Kalmadi was granted the bail on a surety of Rs 5 lakhs after the court decided that he could be given the permission to move out of the jail, bringing a huge sigh of relief from him.
Besides Kalmadi, Justice Mukta Gupta also decided on the bail application of former OC Director General V K Verma who is also an accused in the case pertaining to the mega-sporting event held in New Delhi in 2010.
Kalmadi, Verma and nine others have been accused of allegedly awarding a contract to a Swiss firm to install a Timing-Scoring-Result (TSR) system for the Games at an exorbitant rate, causing a loss of over Rs 90 crore to the state exchequer.
Kalmadi had earlier moved the High Court seeking bail citing the Supreme Court's judgement in 2G spectrum case and said it has been held that "bail is rule and jail is exception".
He said only a charge sheet has been filed against him and there was remote possibility of commencement of the trial in near future.
CBI, however, opposed the bail pleas of Kalmadi and Verma saying the trial is to begin soon and would be held on a day-to-day basis.
The agency had referred to the trial court's January 4 order submitting that it has been decided that the case would be heard on a day-to-day basis soon after scrutiny of documents.
It said there was nothing new in the "bail-is-rule-and-jail-an-exception" remark of the apex court while granting bail in the 2G case.
CBI alleged Kalmadi was the key accused in the case.
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