A Mumbai sessions court had on March 30 sentenced the actor to seven years in jail after he was found guilty of raping his maid in June 2009.
"Shiney has been granted bail today on a cash bond of Rs.50,000," said Shiney lawyer Shrikant Shivade.
The court has, however, restricted Shiney travel outside India without permission. He will also have to present himself to investigating agencies whenever required.
In his appeal to the Bombay High Court, Shiney had claimed that he had been falsely implicated in the case.
Shiney was arrested on June 15, 2009, after preliminary medical tests on the girl confirmed sexual assault. He was charged under the Indian Penal Code (IPC) Section 376 with rape, along with wrongful restraint and intimidation.
The Bombay High Court had granted him bail in October 2009.
More than a year after accusing Shiney of rape, the domestic help in September 2010 told the court that the rape never took place. The medical examination in June 2009, however, confirmed rape.(IANS)