Bhasin, who is out on bail, was accused of rash and negligent driving leading to the death of the youth in 2008 in south Delhi.
He is facing trial under 304 (culpable homicide not amounting to murder) of IPC, a harsher penal provision which may attract life imprisonment as the maximum sentence.
Additional Sessions Judge Renu Bhatnagar allowed Bhasin plea for going outside India after he assured the court that he will abide by the court's earlier order and will inform the court on his arrival.
"Heard. In the past also, he has been granted permission to travel abroad several times and there is no such condition imposed in the bail order of Bhasin that he is not allowed to visit abroad. The accused has never misused the concession given to him on previous occasions," it said, adding that the application is allowed.
"The passport be also be released to the accused with the condition that he will surrender the same after his return within a week," the court added.
Besides 304, the court had also framed charges under section 279 (driving rashly which could endanger human life) and 338 (causing grievous hurt) of the IPC.
On September 11, 2008, Bhasin was driving his BMW car when he had allegedly hit the two-wheeler on Moolchand flyover in south Delhi, killing Anuj Singh. A journalist of a TV channel was also injured in the incident.
Earlier, police had filed the charge sheet against Bhasin under section 304 of IPC.