Former Chairman Wimal Rubasinghe and former Director General Chanadrapala Liyanage of the Sri Lanka Rupavahini Corporation were also released on bail.
The Magistrate gave this order when the case against Rambukwella and the two officials of the SLRC on charges of misappropriation of public funds was taken up before the Court yesterday.
They were charged over misappropriation of public funds by purchasing of galvanized pipes worth nearly one million rupees during the last presidential election.
The case will be heard again on September 2.