Earlier police had registered a case against her for harboring the first accused in the Solar panel scam, Saritha S Nair.
While considering the bail plea, Justice S S Sateeshchandran said that it appeared that the offense was bailable.
The Court directed Director General of Prosecutions (DGP) to produce the case diary today itself following which the same was produced.
The orders in the case are likely to be pronounced on Monday.
Shalu Menon's bail plea in another case has also been posted for orders.
The scam pertains to financial cheating of large number of people by scam accused Saritha Nair and Biju Radhakrishnan. It took a serious political turn after arrest of a close personal aide of Chandy for his alleged links with the fraudsters.
Two other personal staff members of Chandy were removed and state public relations director A Firoz was also arrested in a related case.
