A single bench of Justice Bharati Dangre granted bail to Pithani on a bond of Rs 50,000.
He had been booked under section 27 (A) (financing illicit traffic and harboring offenders) of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, among other charges.
Pithani had sought bail, claiming he was framed in a false case.
He had claimed in his plea that he was never found in possession of any drugs, and nothing which could suggest he was involved in drug trafficking was recovered from him.
Rajput allegedly committed suicide in his Mumbai residence in June 2020. Later, the NCB began a probe, based on some WhatsApp chats, into an alleged drug supply racket in the film industry.
The NCB had also arrested several people, including Rhea Chakraborty. Most of them are now out on bail.