Seeking bail in the case, Rai had claimed that no purpose would be served by keeping him in further custody.
The journalist had contended that he was not required for further custodial interrogation since the Central Bureau of Investigation’s plea for it was rejected by the court on 9 May.
Rai was arrested by the CBI on 3 May. The CBI had booked Rai and the Chief Security Officer Prasun Roy of a private aviation company called Air One Aviation Pvt Ltd for allegedly indulging in dubious financial transactions of over Rs 100 crore and getting access to the sensitive airport entry passes made by the Bureau of Civil Aviation Security (BCAS) by furnishing false information.
The Supreme Court had on 4 May refused to interfere with his arrest.
In his application seeking protection from arrest, Rai had claimed he was framed in the case because of his writings against an Enforcement Directorate officer who was part of the team probing the 2G spectrum allocation scam case.
CBI’s FIR also alleged that Rai had obtained temporary and permanent Aerodrome Entry Pass (AEP) fraudulently. Rai allegedly accessed the sensitive AEP on the basis of false information.
In its FIR, the agency has alleged that going by the value of the transactions of over Rs one lakh during 2017, Rai’s accounts received Rs 79 crore while Rs 78.51 crore was debited from it during the same period.