Chief metropolitan magistrate Lokesh Kumar Sharma allowed accused Vikas Dutt Sharma to walk out of jail but restrained him from leaving the national capital.
"The accused (Vikas) is granted bail," the court said, while directing him to furnish a personal bond of Rs 30,000 with one surety of like amount.
The police had first arrested Krishan Kumar, a former employee of TSeries Super Cassettes Industries. On his questioning, Vikas was apprehended for his alleged involvement in the case. They both are also accused of demanding favours besides money.
However, Krishan will remain in jail as the court earlier this month had rejected his bail application, saying there is likelihood of destruction of evidence if he is released.
In an FIR registered on September 27, the firm's director Ved Prakash Chanana had said he had been flooded with hoax calls for the last few months.
Chanana, a resident of Greater Kailash-II, alleged that they had also impersonated BJP MP Shatrughan Sinha and former Union minister Raghupati Sevugan, among others.
The crime branch of Delhi Police has said Krishan and his accomplices, one of whom is yet to be nabbed, were making hoax calls from three different numbers to officials of the firm to demand Rs 20 lakh and seek other favours.
The accused have been booked under section 419 (cheating by impersonation), 507 (criminal intimidation by an anonymous communication), 387 (extortion), 511 (attempt to commit an offence), 120-B (criminal conspiracy) and 201 (destruction of evidence) of IPC.
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