"You are acquitted," said additional sessions judge S R Malpani-Pawar told a relieved 32-year-old Kasliwal. His father, industrialist Ambuj Kasliwal, was also present in court.
Abhishek was accused of raping a 52-year-old woman in south Mumbai's Colaba area on March 11, 2006, after offering her a lift in his car.
He was arrested the next day after the victim went to the police and alleged that instead of taking her to Mumbai Central, where she wanted to be dropped, he took her to the Shriram Mills premises in Worli and raped her.
The high court granted him bail a month later.
The trial got delayed for some time because the victim had gone missing, before the police traced her and produced her in the court.
Kasliwal's lawyers had argued that there were discrepancies in her statement.