A bench of Justice Revati Mohite-Dere gave the two interim protection from arrest till May 2 on their plea for "transit anticipatory bail,' filed yesterday.
While allowing their plea, the bench asked them to appear the probe agency tomorrow for recording their statements and later, as and when required.
The Ahmedabad Crime Branch had last week lodged a complaint against Ms Setalvad and Mr Anand, alleging that through their NGO Sabrang Trust, they had 'fraudulently' secured central government funds to the tune of Rs 1.4 crore between 2008 and 2013.
According to the complaint on the basis of which the case was lodged, the funds had been secured to provide education to poor children in Gujarat and Maharashtra and to help victims of the 2002 post-Godhra riots in Gujarat, but were misappropriated or used for other purposes.
The case was registered against Ms Setalvad and Mr Anand under various section of the Indian Penal Code.
Senior counsel Mihir Desai, representing Ms Setalvad and Mr Anand, had told the high court that both of them were willing to appear before the investigating agency tomorrow to record their statements.
"Anand will appear before the agency as and when required. Setalvad is going out of India between April 10 and May 15. She would return and (again) appear before the agency," he said.
The high court should give them a 'transit anticipatory bail,' so that they can travel to Gujarat and seek a regular pre-arrest bail from the appropriate court, he said.