Debabrata Sinha, the fifth judge at Bankshall Court, granted bail to Kumar on two sureties of Rs 20,000 each.
He was directed to submit his passport to the court and to meet the investigating officer once a week.
Kumar had surrendered before the court on May 3, after his anticipatory bail prayers were rejected by the Calcutta High Court and the Supreme Court.
Kamal Somani, a chartered accountant, had lodged a complaint at Shakespeare Sarani police station here, alleging that money had been extorted from him following raids led by Kumar at his firm.
He was booked for alleged extortion, criminal conspiracy and under the Prevention of Corruption Act.
Rose Valley, whose operations were spread over several states, is being probed by the ED under the Prevention of Money Laundering Act.
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