Special Judge Virender Kumar Goyal granted bail to the accused on a personal bond of Rs 1 lakh each and surety of the like amount. The court, however, asked them not to leave the country without its prior permission.
Earlier in the day, the CBI had opposed the bail plea of the Chief Minister saying they may influence the witnesses and the ongoing investigation in a disproportionate assets case against them.
The public prosecutor said Mr Singh was the "King of the state" and if granted bail, no one will dare to come forward to depose before the court.
In their bail plea, Virbhadra Singh and the other accused submitted that the investigation was complete as the CBI has already filed the chargesheet.
But the CBI said the investigation in the case was still on and granting of bail might hamper it.
The 82-year-old politician had also cited several medical reports, saying he was suffering from serious ailments.
The accused also claimed that they will be able to look after their case in a better manner if they are out on bail.
Mr Singh and his wife, on May 22, appeared as accused in connection with a nearly Rs 10 crore disproportionate assets case and sought bail.