Economic Offences wing of Mumbai Police, which is probing the case, told the court that the investigating agency intended to file chargesheet against Shah and others on or before August 4.
Shah is likely to be released later on Friday evening or Saturday after completing the formalities.
They have been booked under IPC sections 323 (punishment for voluntarily causing hurt), 341 (punishment for wrongful restraint) and 34 (acts done by several persons in furtherance of common intention), said a senior police officer.
The Income Tax department has declined to share details of probe being carried out in Rs 5,600 crore (Rs 56 billion) payment default by National Spot Exchange Limited (NSEL) saying it would "hamper the process of investigation or apprehension of offenders".
Investigation to be over by weekend, Mumbai police EOW to lodge FIR thereafter.
Sebi on April 4 gave the brokerages 60 days to have their books vetted by third-party auditors.
The Tamil chief minister suffered a heart attack on Sunday evening.
If at all it was some great strategy, the delay has only helped the person they eventually arrested.
I-T dept investigating black money angle; FM hints against bailout for bourse's investors.
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