File photo of Peter Mukerjea (R) and his wife Indrani. Photograph:( Facebook )
He has been granted on the 'merits of the case and his medical conditions'.
However, the High Court stayed the implementation of its order for six weeks to enable the CBI to file an appeal in the matter.
Earlier, Justice Nitin W. Sambre granted him bail on a surety of Rs 200,000 to Mukerjea who was arrested over four years ago and was in jail since barring release briefly on medical grounds.
He has been granted on the "merits of the case and his medical conditions". He will not be allowed to contact his children Rahul and Vidhi.
Peter Mukerjea has been accused of murdering his daughter Sheena Bora over a financial dispute in 2012.
The alleged crime came to the fore three years later, in 2015, for which he was charged for conspiracy.