Additional Sessions Judge Raj Rani Mitra said: "You (crime branch of Delhi Police) proceed with the investigation, and the moment you get evidence against Subhash Chandra and Punit Goenka then you approach the court to take permission to arrest them."
"In case arrest is required, you will have to give 10 days' time before arresting them," added court.
Granting the shield against arrest on the anticipatory bail pleas of Chandra and his son and Zee group's managing director Puneet Goenka, the court disposed of the plea.
The court had earlier granted them interim protection from arrest till Dec 20.
The court had also granted regular bail to Sudhir Chaudhary, head of Zee News, and Samir Ahluwalia, head of Zee Business, arrested November 27 on charges of allegedly attempting to extort money from MP Naveen Jindal's company in exchange for not filing news reports linking his firm to irregular coal blocks allocation.