In 2017, CBI registered FIR in INX media case alleging irregularities in FIPB clearance to the group for receiving overseas funds of Rs 305 crore in 2007.
Puri will however remain in jail as he was also arrested in another case -- the one related to bank fraud.
ED opposing the bail said the case was sensitive, involving money generated from organised crime, and its suspected use for terror financing.
SG Mehta said one crucial witness in the case had written a letter to the ED that he would not come face to face with Chidambaram during investigation as he is 'too powerful'.
The central investigating agency told the court that the accused was a "close confidant" of Mirchi and possessed the power of attorney to execute deals.
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.
Chidambaram was arrested by the CBI on August 21 in the INX Media corruption case and was granted bail by the Supreme Court on October 22.
The matter is listed for hearing on Monday before Justice Suresh Kait, who had asked the probe agency to respond to Chidambaram's bail plea.
Bengaluru Rural MP D K Suresh, had arrived in Delhi at 1.20 am on Wednesday to keep track of the developments.
The counsel for Shivakumar's wife Usha and mother Gowaramma (85) claimed before the court that they have not received the summonses.
INX Media money laundering case: Delhi court sends P Chidambaram to judicial custody till November 13
The court directed Tihar authorities to provide Chidambaram with medicines, western toilet, security and separate cell.
Modi is likely to appear via video link or may even be produced in person if the court listings officials deem that necessary.
Hundreds of Congress workers and supporters of Shivakumar gave him a grand welcome as he landed at the city airport in the afternoon.
DKS' supporters from various areas across the city received him at Sadahalli, Hunasamaranahalli Airforce bus stop, Jakkur, Yelahanka and Byatarayanapura.
The Delhi HC on Wednesday granted conditional bail to DK Shivakumar directing him not to leave the country without permission.