The Central Bureau of Investigation started its search operation at the premises of Puri and other accused directors in seven locations.
There was no immediate response by Puri and his group regarding the Swiss government notices, though they have been denying association with the scam or any other wrongdoing.
Special Judge Arvind Kumar granted the relief to Puri saying no purpose will be served by keeping him in further custody.
A special CBI court had recently granted bail to Puri, the nephew of Madhya Pradesh Chief Minister Kamal Nath.
The plea by the ED was mentioned before a bench of Chief Justice D N Patel and Justice C Hari Shankar, which allowed it to be listed for hearing on Friday.
Puri will however remain in jail as he was also arrested in another case -- the one related to bank fraud.
Senior advocate Vikas Pahwa, appearing for Ratul Puri told the court that there is no evidence that his client had received money through two channels.