Special Judge of the Prevention of Money Laundering Act court, PR Bhavke heard the arguments of lawyers of Bhujbal and Enforcement Directorate before reserving the order.
The court also extended the judicial custody of Bhujbal and his nephew and former MP, Sameer till May 25. The duo is lodged in Arthur Road jail in Mumbai.
Bhujbal's lawyer Prasad Dhakepalkar told the court that the application for bail is based on medical grounds as the former minister is suffering from various ailments and needs constant monitoring by doctors.
Though there is a restriction on granting bail to an accused arrested under PMLA there is an exception for those who are old, for women and those who are unwell, he said.
Dhakepalkar said Bhujbal is suffering from multiple diseases and his condition may worsen if he is not granted bail.
However, the ED opposed the application saying Bhujbal's health is being monitoring twice in day by chief medical officer in the jail and that all possible treatment has been extended to him.
The agency had filed two FIRs against Bhujbals and others under the anti-money laundering laws, based on FIRs filed by Maharashtra Anti-Corruption Bureau, to probe alleged irregularities in the construction of the state guest house 'Maharashtra Sadan' in Delhi and the Kalina land-grabbing case in Mumbai.
Money laundering case: NBW issued against Chaggan Bhujbal's son
Prison doctor removed for fudging Bhujbal's medical records
Rediff sentiment meter: Will it be UDF or LDF in Kerala?
PHOTO: What being in prison has done to Chhagan Bhujbal
Prashant's Priyanka card is a masterstroke