Force India boss Vijay Mallya was arrested in London on Tuesday.
The news follows the Indian government’s attempts to have the former billionaire extradited on corruption and fraud charges relating to huge debts.
India’s Hindustan Times newspaper claims the 61-year-old was bailed on a 650,000 pound bond "within hours".
An Indian politician was quoted as saying: "Will it take another dozen years, 15 years, 30 years or our entire lifetime before Mallya is brought back?"